What Bribery and Corruption means

  • Bribery is a specific offence which concerns the practice of offering something, usually money, to gain an illicit advantage.
  • Corruption is an abuse of a position of trust in order to gain an undue advantage.

 

The Consequences of Bribery and Corruption

Bribery and corruption have serious consequences for companies operating in an international business environment. In such an environment, companies are operating under serious pressure, competition is stiff and margins are tight. This, in conjunction with trying to adapt to unfamiliar legal systems, conventions and specific political circumstances, can make doing business very difficult. There is therefore much depending on whether a company can win a contract, obtain a licence or market a product in good time.

 

Tackling Bribery and Corruption Globally

Thankfully, the fight against corruption has been strengthened substantially on national and international levels in the last number of years and in the following ways

 

Ireland’s Commitment to Tackling Bribery and Corruption