FRYearly Archives: 2013
Today is the 10th United Nations International Anti-Corruption Day. Corruption remains a significant obstacle to economic and social development. According to the World Bank, every year $1 trillion is paid in bribes, while an estimated $2.6 trillion is stolen annually through corruption – a sum equivalent to more than five per cent of global GDP….
Crane Currency, De La Rue plc and Innovia Security have become the first companies to be accredited under the Banknote Ethics Initiative (BnEI). The BnEI was launched last year at the Currency Conference where eight leading companies in the industry signed up to the code. Arjowiggins Security SAS, Giesecke & Devrient GmbH, KBA-NotaSys SA, Note…
Fraud and corruption have long been problem areas for businesses in the extractive sector. As our introductory speaker, Robert Welch from Kazakhmys pointed out, the industry is an easy target. It is labour-intensive, involving high-value commodities, is often based in remote parts of the world with high levels of inherent corruption and requires permits and…
Mining Journal attended our debate on managing corruption risks in the extractives sector. Miners are beefing up their compliance departments to cope with a plethora of new anti-corruption laws from the US, UK and EU. But many firms say it’s a struggle to comply with rules designed to root out bribery and malpractice in developing countries such as…
David Green CB QC, Director of the Serious Fraud Office (SFO), was invited to lead GoodCorporation’s Autumn Business Ethics Debate on the subject of ‘Prosecution and Enforcement of the UK Bribery Act’. He began by talking about guidance and guarantees, stating that it would be wrong for a prosecutor to give any form of guarantee…
Leo Martin talks to Smallbusiness.co.uk about the corruption risks of international shipping and what this means for small businesses. Article for Smallbusiness.co.uk
Low labour costs and a stable political climate make India one of the most popular countries for foreign investment. Its economy has been liberalised over the last 20 years and successive Indian governments have actively pursued business-friendly policies. It has an efficient financial system, good railroads and a convenient location on a number of shipping…
The government’s decision to launch an action plan on business and human rights is a welcome one. As businesses have expanded their operations into increasingly challenging parts of the world, there has been some confusion as to the respective roles of state and business in protecting and respecting human rights, so it is encouraging…
Under the leadership of President Xi Jinping, corruption has become a hot political topic in China. As party leader he has made rousing speeches, vowing to tackle the problem of corrupt officials at both a high and low level. Prior to assuming power, he was known for his zero-tolerance towards corrupt officials. Now President, many…
