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Fighting private sector corruption in a changing world Alphons P.Ranner Member of the Board  Corporate Fraud & Corruption Forum   Sheraton Schiphol  ,  May 27-28, 2010
Combating private sector corruption and fraud  with market and legal instruments  Introduction Corruption defined ,[object Object],[object Object],Corruption and financial services industry Recommendations
Main conclusions ,[object Object],[object Object],[object Object],[object Object]
Transparency International (TI) :  Civil society organisation  leading the global fight against corruption.  Address corruption through many tools  and over 90 national chapters.  Politically non-partisan  Introduction
Introduction No acceptable cost of doing business Corruption is the abuse of entrusted power for private gain Why fight corruption ?  Corruption  undermines good governance.   distorts the potential benefits of trade.    implies a loss of tax revenues &   fundamentally distorts public policy    involves a misallocation of resources    harms private and public sector development      hurts in  particular the poor. vulnerability to extortion and  reputational risk unsafe producs of questioonable qauality
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Trends
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Trends
TI’s approach ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],TI’s approach ,  c urrent  European priorities
Private sector corruption Apart from the anti-bribery index and other indices TI  promotes use of many of new market and legal instruments to fight corruption. Study by Transparency International UK (Robert Barrington)  for City of London.  “ Corruption risk and the City, the Bribery act 2010”  published May 25 th . Probably many results also of interest to companies from continental Europe.
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Key findings City and corruption
Key findings City and corruption Views of respondents 51% City companies do not pay bribes as a matter of principle 47% City companies pay bribes in some circumstances 33% City companies  are willing to pay bribes as standard practice in some environments  25% (!) Well informed about the UK bribery act 10% Current efforts by internal auditors and compliance departments to identify corruption is “very successful” 20%  Typical tests of due diligence seriously inadequate to discern whether customers business partners and/or transactions are corrupt
Regulatory regime concerning Bribery in other Global Financial Centres [1] [1]  See  resources on page 4 of “Avoiding Corruption Risks in the City: The Bribery Act 2010, City of London. Market Country corruption perceptions index OECD Anti-bribery Convention signatory OECD enforcement ranking UN Convention against corruption signed and ratified London (UK) 17 Yes Moderate Yes New York (US) 19 Yes Active Yes Paris (FR) 24 Yes Moderate Yes Frankfurt (GE) 14 Yes Active No Zurich (SW) 5 Yes Active Yes Amsterdam (NL) 4 Yes Active Yes Tokyo (JAP) 17 Yes Moderate No Toronto (CAN) 8 Yes Little or none Yes Hongkong (CH) 12 No n/a Yes Singapore 3 No n/a Yes Dubai (UAE) 30 No n/a No See  resources on page 4 of “Avoiding Corruption Risks in the City: The Bribery Act 2010, City of London.
General Conclusion Preparations  for Bribery Act  and likewise  present day internal procedures  are in many cases inadequate  .
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Recommendations ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Recommendations ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Companies  should
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Professional associations Should advise their members on how to deal with  sector-specific corruption risks
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Recommendation s
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Recommendation s
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Governments and public regulators
Main conclusions ,[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Alphons P.Ranner Transparency International  Nederland Benoordenhoutseweg 23 2596 BA ’s Gravenhage Nederland Tel: 070-3142452

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Fighting Private Sector Corruption And Fraud[1]

  • 1. Fighting private sector corruption in a changing world Alphons P.Ranner Member of the Board Corporate Fraud & Corruption Forum Sheraton Schiphol , May 27-28, 2010
  • 2.
  • 3.
  • 4. Transparency International (TI) : Civil society organisation leading the global fight against corruption. Address corruption through many tools and over 90 national chapters. Politically non-partisan Introduction
  • 5. Introduction No acceptable cost of doing business Corruption is the abuse of entrusted power for private gain Why fight corruption ? Corruption undermines good governance. distorts the potential benefits of trade. implies a loss of tax revenues & fundamentally distorts public policy involves a misallocation of resources harms private and public sector development hurts in particular the poor. vulnerability to extortion and reputational risk unsafe producs of questioonable qauality
  • 6.
  • 7.
  • 8.
  • 9.
  • 10. Private sector corruption Apart from the anti-bribery index and other indices TI promotes use of many of new market and legal instruments to fight corruption. Study by Transparency International UK (Robert Barrington) for City of London. “ Corruption risk and the City, the Bribery act 2010” published May 25 th . Probably many results also of interest to companies from continental Europe.
  • 11.
  • 12. Key findings City and corruption Views of respondents 51% City companies do not pay bribes as a matter of principle 47% City companies pay bribes in some circumstances 33% City companies are willing to pay bribes as standard practice in some environments 25% (!) Well informed about the UK bribery act 10% Current efforts by internal auditors and compliance departments to identify corruption is “very successful” 20% Typical tests of due diligence seriously inadequate to discern whether customers business partners and/or transactions are corrupt
  • 13. Regulatory regime concerning Bribery in other Global Financial Centres [1] [1] See resources on page 4 of “Avoiding Corruption Risks in the City: The Bribery Act 2010, City of London. Market Country corruption perceptions index OECD Anti-bribery Convention signatory OECD enforcement ranking UN Convention against corruption signed and ratified London (UK) 17 Yes Moderate Yes New York (US) 19 Yes Active Yes Paris (FR) 24 Yes Moderate Yes Frankfurt (GE) 14 Yes Active No Zurich (SW) 5 Yes Active Yes Amsterdam (NL) 4 Yes Active Yes Tokyo (JAP) 17 Yes Moderate No Toronto (CAN) 8 Yes Little or none Yes Hongkong (CH) 12 No n/a Yes Singapore 3 No n/a Yes Dubai (UAE) 30 No n/a No See resources on page 4 of “Avoiding Corruption Risks in the City: The Bribery Act 2010, City of London.
  • 14. General Conclusion Preparations for Bribery Act and likewise present day internal procedures are in many cases inadequate .
  • 15.
  • 16.
  • 17.
  • 18.
  • 19.
  • 20.
  • 21.
  • 22.
  • 23.