5. What is Bribery?
Quick Read
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.
