Unit 4: Anti-Bribery and Corruption Compliance in Asia-Pacific
Expert-defined terms from the Professional Certificate in Regulatory Compliance in Asia-Pacific course at London School of Business and Administration. Free to read, free to share, paired with a professional course.
ABAC #
Anti-Bribery and Anti-Corruption, refers to the set of laws, regulations, and standards aimed at preventing and combating bribery and corruption, essential for companies operating in Asia-Pacific to understand and comply with. Related terms: Compliance, Ethics, Governance.
ABC Laws #
Anti-Bribery and Corruption Laws, a set of regulations and laws that prohibit bribery and corruption, strictly enforced in many Asia-Pacific countries. Related terms: FCPA, UK Bribery Act, UNCAC.
Accountability #
the state of being accountable, responsible for one's actions, crucial in anti-bribery and corruption compliance. Related terms: Transparency, Governance, Leadership.
Agent #
an individual or entity authorized to act on behalf of a company, often a high-risk area for bribery and corruption. Related terms: Third-Party Risk, Due Diligence, Monitoring.
Anti #
Bribery Policy: a document that outlines a company's commitment to preventing bribery, mandatory for companies operating in Asia-Pacific. Related terms: Code of Conduct, Compliance Program, Training.
Anti #
Corruption Laws: laws and regulations that prohibit corruption, strictly enforced in many Asia-Pacific countries. Related terms: ABC Laws, FCPA, UK Bribery Act.
Anti #
Money Laundering: laws and regulations aimed at preventing the laundering of money, critical in preventing bribery and corruption. Related terms: AML, Financial Crime, Compliance.
APAC #
Asia-Pacific, a region that includes many countries with unique anti-bribery and corruption challenges. Related terms: Regional Compliance, Cultural Differences, Regulatory Framework.
Audit Committee #
a committee responsible for overseeing a company's audit and compliance functions, essential for anti-bribery and corruption compliance. Related terms: Board of Directors, Governance, Risk Management.
Auditing #
the process of examining and evaluating a company's financial statements and compliance, regular auditing is crucial for anti-bribery and corruption compliance. Related terms: Internal Audit, External Audit, Risk Assessment.
Bribe #
a payment or gift given to influence a decision or action, illegal in many Asia-Pacific countries. Related terms: Corruption, Facilitation Payment, Gratuity.
Bribery Act #
a law that prohibits bribery, strictly enforced in many Asia-Pacific countries. Related terms: UK Bribery Act, FCPA, Anti-Bribery Laws.
Business Ethics #
a set of principles that guide a company's behavior, essential for anti-bribery and corruption compliance. Related terms: Code of Conduct, Compliance Program, Governance.
Certification #
the process of verifying a company's compliance with anti-bribery and corruption laws, often required for companies operating in Asia-Pacific. Related terms: Accreditation, Verification, Due Diligence.
Code of Conduct #
a document that outlines a company's principles and values, mandatory for companies operating in Asia-Pacific. Related terms: Anti-Bribery Policy, Compliance Program, Training.
Compliance #
the state of being in accordance with laws and regulations, critical for companies operating in Asia-Pacific. Related terms: Anti-Bribery Laws, Governance, Risk Management.
Compliance Officer #
an individual responsible for overseeing a company's compliance functions, essential for anti-bribery and corruption compliance. Related terms: Chief Compliance Officer, Compliance Program, Training.
Compliance Program #
a set of policies and procedures aimed at preventing bribery and corruption, mandatory for companies operating in Asia-Pacific. Related terms: Anti-Bribery Policy, Code of Conduct, Training.
Conduct Risk #
the risk of non-compliance with laws and regulations, high in many Asia-Pacific countries. Related terms: Compliance Risk, Operational Risk, Reputation Risk.
Corporate Governance #
the system of rules and practices that govern a company's behavior, essential for anti-bribery and corruption compliance. Related terms: Board of Directors, Audit Committee, Risk Management.
Corruption #
the abuse of power for personal gain, widespread in many Asia-Pacific countries. Related terms: Bribery, Facilitation Payment, Gratuity.
Country Risk #
the risk of non-compliance with laws and regulations in a specific country, high in many Asia-Pacific countries. Related terms: Regional Compliance, Cultural Differences, Regulatory Framework.
Cultural Differences #
the differences in cultural norms and values between countries, significant in Asia-Pacific. Related terms: Regional Compliance, Country Risk, Regulatory Framework.
Due Diligence #
the process of verifying a company's or individual's background and credentials, essential for anti-bribery and corruption compliance. Related terms: Third-Party Risk, Monitoring, Verification.
Ethics #
a set of principles that guide a company's behavior, essential for anti-bribery and corruption compliance. Related terms: Code of Conduct, Compliance Program, Governance.
Facilitation Payment #
a payment made to expedite a process or decision, often considered a bribe. Related terms: Bribe, Corruption, Gratuity.
FCPA #
Foreign Corrupt Practices Act, a US law that prohibits bribery, strictly enforced in many Asia-Pacific countries. Related terms: Anti-Bribery Laws, UK Bribery Act, UNCAC.
Financial Crime #
a crime that involves financial transactions, often related to bribery and corruption. Related terms: Anti-Money Laundering, Compliance, Risk Management.
Gift #
a payment or item given to influence a decision or action, illegal in many Asia-Pacific countries. Related terms: Bribe, Corruption, Facilitation Payment.
Governance #
the system of rules and practices that govern a company's behavior, essential for anti-bribery and corruption compliance. Related terms: Board of Directors, Audit Committee, Risk Management.
Gratuity #
a payment or gift given as a gesture of goodwill, often considered a bribe. Related terms: Bribe, Corruption, Facilitation Payment.
Internal Audit #
the process of examining and evaluating a company's financial statements and compliance, essential for anti-bribery and corruption compliance. Related terms: External Audit, Risk Assessment, Auditing.
Internal Controls #
the policies and procedures that govern a company's behavior, essential for anti-bribery and corruption compliance. Related terms: Compliance Program, Risk Management, Governance.
ISO 37001 #
an international standard for anti-bribery management systems, voluntary but recommended for companies operating in Asia-Pacific. Related terms: Certification, Accreditation, Compliance.
Leadership #
the individuals responsible for overseeing a company's behavior, essential for anti-bribery and corruption compliance. Related terms: Governance, Risk Management, Compliance.
Money Laundering #
the process of concealing the source of funds, often related to bribery and corruption. Related terms: Anti-Money Laundering, Financial Crime, Compliance.
Monitoring #
the process of tracking and evaluating a company's compliance, essential for anti-bribery and corruption compliance. Related terms: Due Diligence, Third-Party Risk, Verification.
OECD #
Organisation for Economic Co-operation and Development, an international organization that promotes anti-bribery and corruption compliance, influential in Asia-Pacific. Related terms: FCPA, UK Bribery Act, UNCAC.
Operational Risk #
the risk of non-compliance with laws and regulations, high in many Asia-Pacific countries. Related terms: Compliance Risk, Conduct Risk, Reputation Risk.
Procurement #
the process of acquiring goods and services, high-risk area for bribery and corruption. Related terms: Third-Party Risk, Due Diligence, Monitoring.
Regulatory Framework #
the set of laws and regulations that govern a company's behavior, complex in Asia-Pacific. Related terms: Compliance, Governance, Risk Management.
Reputation Risk #
the risk of damage to a company's reputation, high in many Asia-Pacific countries. Related terms: Compliance Risk, Conduct Risk, Operational Risk.
Risk Assessment #
the process of evaluating a company's risk of non-compliance, essential for anti-bribery and corruption compliance. Related terms: Internal Audit, External Audit, Auditing.
Risk Management #
the process of identifying and mitigating risks, critical for companies operating in Asia-Pacific. Related terms: Compliance, Governance, Internal Controls.
Sanctions #
penalties imposed on companies that violate anti-bribery and corruption laws, severe in many Asia-Pacific countries. Related terms: FCPA, UK Bribery Act, UNCAC.
Third #
Party Risk: the risk of non-compliance with laws and regulations by third-party vendors or agents, high in many Asia-Pacific countries. Related terms: Due Diligence, Monitoring, Verification.
Training #
the process of educating employees on anti-bribery and corruption compliance, mandatory for companies operating in Asia-Pacific. Related terms: Compliance Program, Code of Conduct, Anti-Bribery Policy.
Transparency #
the state of being open and honest, essential for anti-bribery and corruption compliance. Related terms: Accountability, Governance, Leadership.
UNCAC #
United Nations Convention against Corruption, an international treaty that promotes anti-bribery and corruption compliance, influential in Asia-Pacific. Related terms: FCPA, UK Bribery Act, OECD.
UK Bribery Act #
a UK law that prohibits bribery, strictly enforced in many Asia-Pacific countries. Related terms: FCPA, Anti-Bribery Laws, UNCAC.
Verification #
the process of verifying a company's or individual's background and credentials, essential for anti-bribery and corruption compliance. Related terms: Due Diligence, Monitoring, Third-Party Risk.
Whistleblower #
an individual who reports non-compliance with laws and regulations, protected in many Asia-Pacific countries. Related terms: Compliance, Governance, Risk Management.
Whistleblowing Policy #
a document that outlines a company's procedures for reporting non-compliance, mandatory for companies operating in Asia-Pacific. Related terms: Compliance Program, Code of Conduct, Anti-Bribery Policy.