Bribery Prevention Hub launches today
Anticipated reforms to Australia’s foreign bribery laws, heightened risks emerging from COVID-19 and a push to strengthen corporate risk culture from regulators and stakeholders means that Australian businesses are under increasing pressure to mitigate their bribery and corruption risks.
Knowing how to address the risks of bribery and corruption while succeeding in business can be challenging, particularly for small and medium-sized enterprises.
Australian companies operating in foreign jurisdictions are faced with a myriad of bribery and corruption laws – Australian, local and third party – that can sit in contrast to local customs, expectations, and competitive pressure to bribe. To date, accessing guidance on how to meet legal, regulatory and ethical obligations has meant piecing together disparate sources of information, something that potentially time-stretched organisations may struggle with.
Today, 21 October 2020, the Bribery Prevention Network launches its free, online hub of accessible resources, curated by Australia’s leading antibribery experts. The Hub will be a vital tool for Australian businesses, helping them prevent, detect and address bribery and corruption and promote a culture of compliance. These resources support businesses to understand their legal, regulatory and ethical obligations and to understand what steps to take to comply with these obligations.
n identifying, managing and addressing bribery and corruption risks, businesses can engage in the fight against bribery and corruption, which not only promotes honest competition and makes good business sense, but also helps ensure local communities benefit from business activity.
More broadly, the Bribery Prevention Hub aims to support:
- Building fair and competitive markets
- Reducing supply chain and business partner risk
- Big business helping small business in managing risks as they reach into international markets
- Building consensus about adequate procedures as anti-bribery laws evolve.
Access the Bribery Prevention Hub here to learn more and find resources to support your organisation to prevent, detect and address bribery and corruption.
The Bribery Prevention Network is a public-private partnership that brings together business, civil society, academia and government with the shared purpose of working towards a bribery free society.