Developments in Anti-Bribery and Corruption: The Impetus for Australian Companies to Take Action
In recent years, the fight against bribery and corruption involving foreign officials has gathered momentum, and there has been an increase in investigatory activities, as well as enforcements through legislations and prosecution.
Bribery and corruption activities can arise in various aspects of a company's operations - sales, marketing, distribution, procurement, payments, international operations, expense claims, taxes, compliance, and facilities operations.
A major area of exposure is with regards to third party providers (TPPs), which can implicate a company by association. While, in the past, an organisation may have been able to absolve itself from responsibility for the activities of TPPs, this is no longer an effective defence.