Case Study | Title: Anti-Bribery (Regulatory and Compliance Risk) - GRM Institute

Case Study | Title: Anti-Bribery (Regulatory and Compliance Risk)

Research and submitted  by Soorya Subramanian​, Manali k Kapat, Rohit Sisodia, Arun Nemani

PGDRM Batch July’19-20 and Jan’20-21

Anti-Bribery

 

Content of the study:

  • Introduction​
  • Scam of Walmart​
  • Why did it take place?​
  • Impact and punishments​
  • How to change things?​
  • Why should I change​?
  • Example of an Ethical Company​

 

Defining Bribery:

  • There is no universal definition of bribery but all definitions have in common that it involves someone in an appointed position acting voluntarily in breach of trust in exchange for a benefit.​
  •  The benefit does not have to involve cash or a payment exchanging hands.​
  •  Benefits can be in any form such as gifts, hospitality, access to assets, or a favor made to a person, friend, etc.​

 

Laws Applicable: (1/2)

India: Prevention of Corruption Act, 1988 (Amendment Act, 2018) states:-​

  • “Bribe’ includes facilitation payments, directly or through third parties, gift, hospitality, and expenses which may or perceive to affect the outcome of business transactions, which are not reasonable and bonafide;​
  • Criminalizes receipt of any ‘undue advantage’ by ‘public servants’ and providing such undue advantage by other persons​
  • ‘Public Servants’ includes any person in the service or pay of the government, local authority, government company, and employees of institutions receiving state financial aid​
  • Employees of private sector banks are also considered government employees under this act​.

 

Laws Applicable: (2/2)

The US: Foreign Corrupt Practices Act of 1977, (FCPA) is a:-​

  • United States federal law that prohibits U.S. citizens and entities from bribing foreign government officials to benefit their business interests​
  • FCPA is applicable worldwide and it extends mainly to the publicly traded companies​
  • Criminal and civil penalties are applied by the Department of Justice (DOJ) and Securities and Exchange Commission (SEC)​

 

Disclaimer

Views and opinions expressed by the individuals in this case study is only for research purpose. The copyright of the content solely lies with the main research owner, links to which are added at the end of the case study.

 

 

Read the whole case study here: Anti Bribery GRMI-Case Study

 

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