Fighting corruption is high on the agenda of many governments and legislation is getting tougher.
However, as organisations trade globally across cultural divides and in increasingly competitive markets it can be difficult to navigate through corporate entertainment and gifts.
BS 10500 is the British Standard for an Anti-Bribery Management System which can help manage the risk of bribery and corruption within your organisation, demonstrating compliance with the law and showing your social & ethical values.
Anti-Bribery Legislation in the UK
In the UK, the Bribery Act 2010 was enacted to provide general legislation around bribery including:
“giving someone a financial or other advantage to encourage that person to perform their functions or activities improperly or to reward that person for having already done so.”
Following the act, many companies moved to clarify their policies on corporate entertainment and receiving gifts.
For individuals falling foul of the Bribery Act the penalties can be severe, with up to 10 years in prison and unlimited fines.
Whereas a commercial organisation failing to prevent bribery can also receive unlimited fines.
In addition, under the Proceeds of Crime Act 2002, a confiscation order can also be made.
BS 10500 will help you to develop and communicate policies that make it clear to all interested parties that bribery will not be tolerated.
An over-all anti-bribery policy is a good place to start, while BS 10500 will support this through training, awareness and auditing.
ISO 37001 PUBLISHED!
BS 10500 was used as the base for ISO 37001 – the international standard for Anti-Bribery Management Systems, which was published in October 2016: