Bribery and corruption là gì
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This Policy establishes principles that governs Principal Asset Management Berhad (Principal)’s conduct in order to, a) conform to the U.S. Foreign Corrupt Practices Act (FCPA), the UK Bribery Act and similar anti-corruption laws worldwide (as the company is also bound by the laws affecting its Group), the MACC Act and Guidelines on Adequate Procedures pursuant to MACC Act Section 17A (5) and b) more broadly, reinforce our intention and obligation to act honestly and ethically in all of our business dealings. “People want to work with companies they can trust. Principal has built a strong reputation for being an ethical, trustworthy company. Each of us has a responsibility to protect that reputation by demonstrating honesty and integrity as we interact with customers, business partners and each other.” - Dan Houston, chairman, president and CEO. This policy applies to all employees, including those of wholly and majority-owned entities of Principal. Bribery and corruption are not only against our Company values; they are illegal and can expose both the employee and Company to fines, penalties, including imprisonment and reputational damage. At Principal, bribery is never permitted. We will not seek to influence others, either directly or indirectly, by offering, paying or receiving bribes or kickbacks, or by any other means that is considered unethical, illegal or harmful to our reputation for honesty and integrity. Employees and representatives of the Company are expected to decline any opportunity which would place our ethical principles and reputation at risk. While certain laws apply only to bribes to government officials (domestic and foreign); this Policy applies to non-government business partners as well. Corruption is dishonest or fraudulent conduct by those in power, typically involving bribery. Bribery is offering, giving or receiving anything of value with the intention of inducing a person to act or to reward a person for having acted. It is important to understand that a corrupt act has occurred even if: Companies cannot avoid liability by using a third party to give or receive a bribe. A third party includes, but is not limited to consultants, agents, representatives, contractors and advisors.
We must clearly convey to third parties representing the Company that we expect them to comply with our Bribery and Corruption Policy. In some jurisdictions, the Company can be convicted of a criminal offense if it fails to prevent bribery carried out on its behalf by a third party even if no one in the Company had actual knowledge of the bribe.
Whenever the Company seeks to engage a third party in a context in which the third party may interact with a Government Official for or on behalf of the Company, the following guidelines apply:
Government OfficialsLaws and regulations are strict when dealing with Government Officials. Reasonable corporate hospitality that is acceptable with other business associates might not be allowable when Government Officials are involved. Before such expenses are incurred, obtain approval from your Compliance Director/Legal contact. A Government Official is any:
The definition of what could constitute a bribe to a Government Official is broad and can occur even when the benefit being offered is small, such as gifts, entertainment and even business meals. Some laws allow expenses which relate to reasonable and bona fide travel, accommodation and meal expenses in connection with a contract between the Company and the third party, or the demonstration of Company capabilities relating to proposed business with the third party. Facilitation Payments“Facilitation or grease payments” facilitate a normal government bureaucratic function, such as to expedite processing paperwork. However, they are not allowed under the UK Bribery Act and they are prohibited by this policy. Policy ViolationsFailure to follow this Policy could result in disciplinary action for employees or termination of a non-employee’s relationship with Principal. Violations can be reported anonymously by using the online reporting form. Our Whistleblower Policy protects employees, customers and third parties (including but not limited to consultants, agents, representatives, contractors and advisors) who report concerns in good faith. Reporting ViolationsEmployees and representatives should seek clarification on any questions or concerns regarding activities under consideration or the interpretation of any law. If you are offered a bribe from a person or entity doing business with or seeking to do business with the Company, report it immediately to your business area’s Compliance Director/Legal contact. If you are offered something of value and are uncertain whether you are allowed to accept it, refer to the gift and entertainment policy and standards applicable to your location, or check with your leader or your business area’s Compliance Director/Legal contact. Violations can be reported anonymously by using the Ethics Hotline or online reporting form. Our Whistleblower Policy protects employees who report concerns in good faith.
There is no universal definition of bribery but all definitions have in common that it involves someone in an appointed position acting voluntarily in breach of trust in exchange for a benefit. The benefit does not have to involve cash or a payment exchanging hands. It can take many forms such as lavish gifts, hospitality and expenses, access to assets or a favour made to a relative, friend or favoured cause. TI defines bribery as: the offering, promising, giving, accepting or soliciting of an advantage as an inducement for an action which is illegal, unethical or a breach of trust. Inducements can take the form of money, gifts, loans, fees, rewards or other advantages (taxes, services, donations, favours etc.).
When a person offers, promises or gives a bribe, it is called ‘active bribery’ and when a person requests, receives, or accepts a bribe, it is called ‘passive bribery’. Both forms are of concern to companies and are outlawed in most countries. Until the advent of the UK Bribery Act, the focus of anti-bribery legislation had been on active bribery of foreign public officials as this is the main arena for bribery because of the harm it brings to societies and the way it undermines fair trading. For example, the OECD Anti-bribery Convention and the U.S. Foreign Corrupt Practices Act (FCPA) address only active bribery. Examples of active bribery
Examples of passive bribery Passive bribery takes place most often in certain operating functions; examples of instances are below:
5.3.1 The Deadly consequences of bribery to avoid planning and safety rules
A Chinese court in 2016 gave the head of a logistics company a suspended death sentence and a fine of more than 700,000 yuan (about U.S. $100,000) over a massive explosion on 12 August 2015 at a chemical warehouse in the eastern port city of Tianjin that killed 173 people. The dead included 99 firefighters and 11 police officers. Another 798 people were injured, largely because the company illegally built its warehouse too close to residential apartments. The cost of damage was estimated to be U.S. $1 billion according to a report by the Chinese government. The court ruled that Ruihai International Logistics Chairman Yu Xuewei paid bribes to obtain permission to illegally store more than 49,000 tons of sodium cyanide and other highly toxic chemicals at the company’s warehouse in the city’s port between 2013 and 2015. The explosion was among China’s deadliest industrial accidents in recent years and the resulting investigation was directly overseen by the Cabinet. Various other Tianjin courts gave lesser sentences to 48 other people. They included 25 local government officials and workers accused of dereliction of duty, abuse of power and bribe taking, 12 other Ruihai employees accused of taking part in the scheme and 11 employees of a company that provided phoney certificates supporting the company’s operations. 5.3.2 Passive Bribery by Bank Employees: Bank’s Customers Robbed of £113 Million
Along with his accomplices, Feezan Choudhary stole £113 million from a UK bank’s customers. He paid a £250 bribe every time corrupt staff at a UK bank provided information about the bank’s customers. In September 2016, he was jailed for 11 years and a total of 19 people were convicted including three of the bank’s employees. 5.3.3 Passive Bribery in a UK Retailer
Two former IKEA staff and a supplier were found guilty in the UK in 2007 in a £1.3m bribes case. The convicted parties set up a number of companies to supply goods to the UK operation of IKEA. IKEA operated a policy whereby it would not take more than 40 per cent of a supplier’s turnover. This ‘turnover rule’ was designed to prevent suppliers being overly reliant on IKEA’s business. In this case virtually the entire turnover of these companies was with IKEA. In addition, by supplying goods through the supplier’s various companies the true extent of the scale of turnover of the supplier’s business with IKEA was masked. To help keep this fact from being discovered and to ensure that the companies’ supplies and invoices would be approved, corrupt payments were made to two IKEA executives in influential positions in purchasing and retail sales. Ultimately the position was reached where the supplier was dictating what would be ordered by IKEA according to what goods the supplier had available. Page 2
TI defines bribery as the offering, promising, giving, accepting or soliciting of an advantage as an inducement for an action which is illegal, unethical or a breach of trust. This covers ‘active bribery’ whereby an employee of the company offers, promises or gives an advantage, and ‘passive bribery’ which is when an employee requests, agrees to receive or accepts an advantage. It is important to understand the key definitions and types of bribery in order to assess and mitigate the risks. For example ‘Kickbacks’ which have an element of both active and passive bribery, are a particular risk in procurement and purchasing. |