Anti-bribery and corruption efforts ‘compromised’ by poor procedures

In the week that telecoms giant Ericsson was fined $1bn by US enforcers to settle bribery charges, Board Agenda reported on the findings of GoodCorporation’s paper Combating corruption: businesses still at risk.

Of the 7,000 anti-corruption procedures assessed by GoodCorporation almost one third were found to be inadequate with over half (53%) of the due diligence controls insufficient.

GoodCorporation’s conclusions were felt to be in tune with research conducted by the University of Manchester and the law firm White & Case which found that nearly a third of employees said their companies had no anti-bribery policy, or if they did, they were unaware of it.