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Showing 1 - 8 of 8 results for "facilitation payments"

Australian companies still lag on anti-corruption policies

RACHEL ALEMBAKIS  |  FRIDAY, 10 OCT 2014  |  NEWS
... business." Australia has been criticised for its lack of enforcement of bribery laws, and for not having banned facilitation payments. However, Australian companies are still exposed to legal risk through international business. Both the US and UK have ...

Companies lag on implementing UN Global Compact

RACHEL ALEMBAKIS  |  FRIDAY, 13 SEP 2013  |  NEWS
... bribery certification", 13% reported engaging in collective action and 22% reported recording instances of facilitation payments and gifts. In human right, 72% said a human rights policy was within the overall code and 53% said it was within supplier ...

KPMG: fraud costs Australian/NZ businesses $373 million

RACHEL ALEMBAKIS  |  FRIDAY, 8 FEB 2013  |  NEWS
... high-risk for corruption, but 40% of those companies have no publicly stated policy that prohibits bribery or facilitation payments. "We find that there is a real attitude of, it can't happen to us because it hasn't happened to us," Gill said. "But it ...

OECD criticises low enforcement of foreign bribery law

RACHEL ALEMBAKIS  |  FRIDAY, 2 NOV 2012  |  NEWS
... fine against companies engaging in foreign bribery, and an amendment to legislation that clarified that facilitation payments defence is limited to payments of minor value. "Awareness should continue to be raised about the difference between a bribe ...

Leightons under investigation over payment disclosure

RACHEL ALEMBAKIS  |  FRIDAY, 17 FEB 2012  |  NEWS
... in different countries around the definitions of and penalties for bribery, corruption and practices like facilitation payments was leading companies to investigate and disclose their own shortcomings in this area. "I think that what we're seeing is ...

KPMG: companies should review anti-corruption policies

RACHEL ALEMBAKIS  |  WEDNESDAY, 18 JAN 2012  |  NEWS
... need to review their anti-corruption and anti-bribery policies if the Australian government removes the "facilitation payments" defence from laws. David Luijerink, KPMG forensic partner In November, the government released a consultation paper discussing ...

75% of ASX100 exposed to corruption in high-risk countries

RACHEL ALEMBAKIS  |  FRIDAY, 28 OCT 2011  |  NEWS
... high-risk for corruption, but 40% of those companies have no publicly stated policy that prohibits bribery or facilitation payments. "Given the clear increase in exposure and the increased scrutiny and penalties imposed, investors should be concerned ...

Colonial First State Global Asset Management reports on responsible investment

RACHEL ALEMBAKIS  |  FRIDAY, 1 JUL 2011  |  NEWS
... risque," she said. "In some instances, we've met with companies and they've admitted to us that they've made facilitation payments to gov'ts, and we have taken the decision in some instances to divest. IN other cases where we judge facilitation payments ...
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