Integrity is the Essence of Everything Successful
R. Buckminster Fuller
What is Compliance
Any commercial activity is basically the process of making money. In pursuit of high profits, many businesses sometimes decide to circumvent laws and neglect ethical norms. However, such behavior has a negative effect. Instead of high earnings, businesses receive heavy fines, a ban on doing business, negative public outcry, criminal prosecution, and other consequences. The result is a loss of reputation, a decline in revenue, imprisonment, mass layoffs, and even bankruptcy. For example, the total amount of fines imposed by the US Department of Justice and the Securities and Exchange Commission for bribery violations by various companies around the world from 2010 to 2019 was more than $ 17.5 billion. So the anti-corruption compliance is basically a set of legal and organizational measures implemented by an organization aimed at complying with the requirements of anti-corruption legislation and preventing its violations. The implementation of such a program in the company helps to minimize business risks: prevent corruption offenses and avoid negative consequences for the organization and its officials, including criminal prosecution.