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Anti-Corruption Efforts
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Flashcards
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Bribery
Implement a zero-tolerance policy against bribery
Embezzlement
Conduct regular and thorough internal audits
Kickbacks
Enforce strict procurement guidelines and vendor vetting processes
Nepotism
Adopt fair hiring policies and transparent recruitment procedures
Fraudulent Trading
Institute rigid financial regulations and real-time monitoring systems
Accounting Fraud
Mandate adherence to generally accepted accounting principles (GAAP)
Money Laundering
Enforce anti-money laundering laws and Know Your Customer (KYC) rules
Conflict of Interest
Establish a policy to disclose and manage potential conflicts of interest
Tax Evasion
Strict adherence to tax laws and full transparency in financial disclosures
Insider Trading
Impose blackout periods and monitor trades of insiders
Abuse of Power
Cultivate a culture where power is accompanied by responsibility and accountability
Collusion
Promote competitive practices and encourage reporting of anti-competitive behavior
Influence Peddling
Enforce regulations on lobbying and create clear boundaries between lobbyists and officials
Intellectual Property Theft
Implement robust security measures and educate employees on IP laws
Data Mismanagement and Theft
Adhere to data protection regulations and establish strict cybersecurity protocols
Counterfeit Goods
Create secure supply chains and take legal action against counterfeiters
Illegal Gratuities
Outline stringent policies for accepting gifts and hospitality
Pay-To-Play
Enforceful legal frameworks that prohibit exchanging money for opportunities or influence
Asset Misappropriation
Strict inventory controls and surveillance of physical and digital assets
Ponzi Schemes
Educate investors and enforce investment and securities laws
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