Anti-Corruption Certification

To get certified

Glossary of terms used on this site

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Term Definition
Debarment

The state of being excluded from enjoying certain possessions, rights, privileges, or practices and the act of prevention by legal means. For example, companies can be debarred from contracts due to allegations of fraud, mismanagement, and similar improprieties. Firms, individuals, and non-governmental organizations can be debarred. In cross-debarment, organizations and agencies agree to mutually exclude others based on debarment by affiliates i.e. being debarred from World Bank calls for tender means you are also debarred from all other development bank calls for tender

Deferred prosecution agreement (DPA)

The agreement allows a prosecution to be suspended for a defined period provided the organization meets certain specified conditions. DPAs can be used for fraud, bribery and other economic crime

Direct corruption

The act of giving or promising a bribe in return for an undue advantage (cf. indirect corruption)

Disclosure

The act of releasing all relevant information i.e. information related to corrupt activities to an enforcement authority

Dodd Frank Act

The Dodd–Frank Wall Street Reform and Consumer Protection Act was signed into United States federal law on July 21, 2010. Passed as a response to the financial crisis of 2007–2008, it brought the most significant changes to financial regulation in the United States since the regulatory reform that followed the Great Depression. The Act strengthens whistleblower rights

Due diligence

A comprehensive appraisal of a business or individual undertaken to evaluate potential risks

Ethics

Moral principles that govern a person's behavior or the conducting of an activity

Extortion

The wrongful use of actual or threatened force, violence or intimidation to gain money or property from an individual or entity.  Extortion generally involves a threat being made to the victim’s person or property, or to his/her family or friends

Synonyms: Undue solicitation
Extraterritoriality

The applicability or exercise of a sovereign's laws outside itsterritory. i.e.; the American FCPA uses an element of extraterritoriality when it prosecutes foreign companies for acts of corruption outside the U.S.

Facilitation payments

A small bribe, also called a ‘facilitating’, ‘speed’ or ‘grease’ payment; made to secure or expedite the performance of a routine or necessary action to which the payer has legal or other entitlement

FCPA Foreign Corruption Practices Act (1977)

A United States federal law known primarily for two of its main provisions, one that addresses accounting transparency requirements under the Securities Exchange Act of 1934 and another concerning bribery of foreign officials

Forensic data analysis

Examines structured data with regard to incidents of financial crime. The aim is to discover and analyze patterns of fraudulent activities

Fraud

Wrongful or criminal deception intended to result in financial or personal gain

Grand corruption

The abuse of high-level power that benefits the few at the expense of the many and causes serious and widespread harm to individuals and society

Guanxi

A Chinese word to describe "networks" or "connections," understood to be a network of relationships designed to provide support and cooperation among the parties involved in doing business