Bribery has been used throughout history and we still use it on our children today but in an innocent way of course, so what's the big deal. When does a bribe become corruption and what are the consequences of it being present in our world.
According to the World Economic Forum, $2 trillion dollars a year is wasted on corruption and this gigantic figure only takes into account money spent on bribes.
Let’s start with what bribery is defined as - it is the offer or acceptance of anything of value in exchange for influence over another person’s behaviour. In general, bribes can take the form of gifts, loans, fees, rewards or other advantages.
Which leads into the definition of corruption, which is the abuse of entrusted power for private gain. It can be classified as grand, petty, or political, depending on the amount of money lost and the sector where it occurs.
Giving and receiving bribes are both criminal offences and bribery is one of the many forms of corruption. If you were faced with a situation of bribery and/or corruption, would you know what actions to take and how to ensure you are not caught up in the act of corruption?
You are probably thinking it won't happen to me or do bribes really take place that often? It is more prevalent than you think and the simple act of giving a gift to a potential client can be a form of bribery.
I strongly recommend for all parties whether, you're a business owner, employee, employer or you hold a place of power or not, take part in the Anti-Bribery and Corruption course available in the Chorck Marketplace by Harness RTO.