Anti-Corruption Certification

To get certified

Glossary

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Term Definition
Organization for Economic Cooperation and Development (OECD)

An international organization which provides a forum where governments can work together to share experiences and seek solutions to common problems. The OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, signed in 1997, establishes legally binding standards to criminalize bribery of foreign public officials in international business transactions and provides for a host of related measures that make this effective. It is the first and only international anti-corruption instrument focused on the ‘supply side’ of the bribery transaction

Passive corruption

Receiving a bribe or something of value to carry out or abstain from carrying out one’s duties (cf. active corruption)

Patronage

The support, encouragement, privilege, or financial aid that an organization or individual bestows to another

Petty corruption

Everyday abuse of entrusted power by public officials in their interactions with ordinary citizens, who often are trying to access basic goods or services in places like hospitals, schools, police departments and other agencies

Political contribution

A contribution made to a politician or a political campaign or a political party

Political corruption

The use of powers by government officials for illegitimate private gain

Politically exposed persons

Individuals who hold or held a prominent public function, such as the head of state or government, senior politicians, senior government, judicial or military officials, senior executives of state-owned corporations, or important political party officials. The term often includes their relatives and close associates

Private sector

The part of the national economy that is not under direct state control

Procurement

The act or process of procuring; i.e. the obtaining of military supplies by a government

Public sector

The part of the economy that is controlled by the state

Risk assessment

The determination of quantitative or qualitative estimate of risk related to a well-defined situation and a recognized threat

Sapin II law

A French law which addresses transparency, anti-corruption and economic modernization, and which came into force on 1 June 2017. Among other things, the law stipulates that companies must establish an anti-corruption program to identify and mitigate corruption risks. The law is the second law on anti-corruption issued from Michel Sapin, Finance Minister from 1992 – 1993 and from 2014 – 2017

Securities and Exchange Commission (SEC)

An independent agency of the United States federal government. The SEC holds primary responsibility for enforcing the federal securities laws, proposing securities rules, and regulating the securities industry, the nation's stock and options exchanges, and other activities and organizations

Serious Fraud Office (SFO)

The Serious Fraud Office is a non-ministerial government department of the Government of the United Kingdom that investigates and prosecutes serious or complex fraud and corruption in England, Wales and Northern Ireland

Shell company

Non-trading firm formed (and often listed on a stock exchange) as a vehicle to (1) raise funds before starting operations, (2) attempt a takeover, (3) for going public, or (4) as a front for an illegal business