Corruption and Bribery have serious consequences for companies operating in an international business environment. In such an environment, businesses are operating under serious pressure, competition is stiff and margins are tight. This, in conjunction with trying to adapt to unfamiliar legal systems, conventions and specific political circumstances, can make doing business in an international environment very difficult. There is therefore much depending on whether your company can win a contract, obtain a licence or market a product in good time.tand and respond to anti-bribery and corruption compliance in all its phases, even when the businesses span many jurisdictions and are governed by many regulators.
PRAETOR FORENSIC AUDITING assists in determining loose controls posing risk of violation of FCPA and Bribery Act, showcasing company’s views on corruption and bribery to regulatory bodies and also provides training to employees regarding FCPA, Bribery Act and related provisions.
- Kickbacks to employees by a supplier in return for the supplier receiving favourable treatment.
- Kickbacks to senior management in relation to the acquisition of a new business or disposal of part of the business.
- Employee sells company owned property at less than market value to receive a kickback or to sell the property back to the company at a higher price in the future
- Purchase of property at higher than market value in exchange for a kickback.
- Preferential treatment of customers in return for a kickback.
- Collusion with customers and/or suppliers.
- Favouring a supplier in which the employee has a financial interest.
- Employee setting up and using own consultancy for personal gain (conflicts with the company’s interests).
- Employee hiring someone close to them over another more qualified applicant.
- Transfer of knowledge to a competitor by an employee who intends to join the competitor’s company.
- Misrepresentation by insiders with regard to a corporate merger, acquisition or investment.
- Insider trading (using business information not released to the public to gain profits from trading in the financial markets).
- Payment of agency/facilitation fees (or bribes) in order to secure a contract.
- Authorising orders to a particular supplier in return for bribes.
- Giving and accepting payments to favour or not favour other commercial transactions or relationships.
- Payments to government officials to obtain a benefit (eg customs officials, tax inspectors).
- Anti-trust activities such as price fixing or bid rigging.
- Illegal political contributions.
- Offering to keep someone from harm in exchange for money or other consideration.
- Blackmail – offering to keep information confidential in return for money or other consideration.