Preventing Bribery and Corruption in Your workplace
In this training, we’ve learned specifics about bribery and corruption in the workplace, including what they are and how to identify them, the impacts of violating laws and policies for individuals and organizations. In our final chapter, we’ll discuss what to do if you suspect bribery or corruption are taking place in your organization.
Protect Quality by Vetting Third Parties
Another red flag for corruption is accepting subpar or low quality goods. You can prevent corruption for quality by working within a group when procuring contracts and monitoring supplier relationships via regular audits. Remember, even if you are not aware of third party corruption, if you are involved you could be liable. That’s why you should fully vet all suppliers to ensure they have an appropriate track record.
Watching for Payment or Invoice Fraud
In order to prevent corruption related to payments, you can require double sign offs for all purchases and verification checks to ensure goods were received. Ensure there is a genuine business need for all purchases. You should also be sure to be on the lookout for invoices that are submitted without any actual work taking place, as well as over-inflated pricing that is above market value.
Earlier we learned the red flags for spotting potentially corrupt activities. Now let’s look at some steps organizations can take to prevent bribery and corruption as they relate to those flags.
Traveling for work can be great fun, but it’s also a situation that’s ripe for corruption. Ensure all travel claims and expenses are backed up with appropriate documentation. You can also implement expense policies and thresholds that will automatically flag expenses that seem unusual.
Make sure to perform due diligence to vet all personnel and companies before engaging in any type of business relationship. Remember that if you are participating in third party corruption, even if you are unaware of it, you could still be held accountable. You should always thoroughly investigate potential employees and business relationships before working together to be sure they have a solid track record.
Prevent nepotism or cronyism by requiring employees to disclose any potential conflicts of interest. Make all procurement and supplier decisions based on merit. When a major decision needs to be made, remove any employees that have a close relationship or connection before making a decision.
Your Responsibilities and Obligations
There are a number of things you can do as an employee to protect yourself and your organization. It’s important to note that even individuals can be subject to severe civil and criminal penalties which can include monetary penalties, jail time, and/or loss of reputation.
Here are some myths to look out for:
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Ask lots of questions if something doesn't feel right.
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If you have any concerns, it is your obligation to speak up.
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Know who to go to.
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Follow guidelines regarding gifts, business expenses, or reimbursements.
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Remember that using confidential information to buy or trade stocks can be viewed as insider trading.
Teach employees when to speak up about corruption with training
In the event you suspect corruption, remember, ask questions if something doesn't feel right and if you have concerns, it is your obligation to speak up. With the Anti-Bribery & Anti-Corruption course from EasyLlama, your employees will have a better understanding of when to raise concerns about corruption or bribery in the workplace. Educate your team today with EasyLlama’s modern training solutions.
Helping over 8,000+ organizations create a safer, more inclusive company culture.
EasyLlama’s online training course guides learners understanding FCPA and other anti-bribery legislation. Organizations should prioritize minimizing corruption risks by implementing a comprehensive anti-corruption course. The course covers:
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