Prevention of Bribery and Corruption Critical in the Global Economy

Bribery and corruption are serious issues facing businesses competing in an increasingly global economy. For years, businesses have been concerned with domestic prosecution for violations of the Foreign Corrupt Practices Act (“FCPA”) abroad. However, as times have changed and the economy has become more global, new laws and statutes are impacting the way U.S. businesses must conduct themselves at home and abroad.

It’s Not Just the FCPA Anymore

Anyone engaging in business dealings with foreign officials or international entities must abide by global anti-corruption laws such as the FCPA, the U.K. Bribery Act, legislation arising from the International Organization for Economic Co-Operation & Development (“OECD”) and emerging legislation in Brazil, Russia, India and China (the “BRIC” nations). Failing to understand and observe these laws can result in illegal business practices and expose individuals and their organizations to civil or criminal penalties.

It is Impossible to Understand the Details of New Legislation Just by Reading the News

If you are authorized to negotiate contracts with or make payments to foreign officials and other global entities, it is essential that you understand the key provisions of global anti-corruption laws and ensure you make informed decisions and maintain compliance in all business dealings. Simply reading news articles covering enormous penalties does not provide the basis for why the violations leading to those penalties, and therefore does not provide the foundation for determining how best to prevent running afoul of international and domestic laws. This is where training comes in.

Prevention of Bribery and Corruption Courses Have an Impact

Rather than just provide a synopsis of the law, Syntrio’s bribery and corruption courses take the user through real-world scenarios designed to teach the finer points of anti-bribery and corruption laws that trip up even the most savvy of managers and executives. Indeed, there are limited situations where payments to government officials and other private parties are perfectly acceptable (even when it seems they would not be). By walking the user through scenarios detailing the laws themselves and the exceptions thereto, your managers are better equipped to understand what is and is not acceptable conduct when dealing in the global marketplace.

There is More to Worry About than Just Huge Fines

Global anti-corruption laws of course contain stiff monetary penalties for making bribes and corrupt payments. However, many of these laws include criminal penalties calling for those who are directly involved to serve jail time. For this reason alone, it is extremely important that you prepare your managers and executives with the knowledge necessary to maintain the ethical line and avoid corrupt payments. Failing to do so could result in the entity later being sued by the individual who claims he or she was just acting on the guidance of the company.

Contact Syntrio to Learn More About Courses Covering the Prevention of Bribery and Corruption

Syntrio’s representatives are ready to show you more about our new prevention of bribery and corruption course. If you feel you need would like a program tailored to your specific industry and specific issues therein we can also create a custom course just for your business.

Contact www.syntrio.com for more information and remember to follow us on TwitterGoogle Plus and LinkedIn for daily updates on employment law and compliance issues that may impact your organization!

 

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