Global Anti-Bribery
This course introduces global anti-bribery laws and provides basic principles and specific guidelines for complying with anti-bribery laws around the world. Globally, costs related to corruption total an estimated $2.6 trillion annually, with over $1 trillion paid in bribes each year. Bribery, extortion, and other corrupt practices add up to 10% of the total cost of doing business globally and up to 25% of the cost of procurement contracts in developing countries. Corruption distorts markets and inhibits competition. It undermines the rule of law and breeds cynicism among citizens. Corrupt practices also hinder development and poverty-reduction efforts, especially in developing nations. In recent years, many countries and regional organizations have passed new anti-bribery laws or strengthened existing statutes in an effort to prevent corruption and ensure fair competition in the global marketplace.
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Course Outline
Global Anti-Bribery
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1. Overview
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2. Laws
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3. Illegal Payments
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4. Independent Agents
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5. Recordkeeping and Adequate Procedures
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6. Violations
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7. Conclusion
Learning Objectives
Global Anti-Bribery
- Identify the key regulations that prevent bribery and corruption globally — the Foreign Corrupt Practices Act (FCPA).
- The UK Bribery Act — in addition to common components of many anti-bribery laws around the world.
- Recognize when to report a violation and the consequences for violating an anti-bribery law.
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