Glossary of terms used on this site

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Term Definition
Whistleblower

A person who exposes any kind of information or activity that is deemed illegal, unethical, or not correct within an organization that is either private or public

US Federal Sentencing Guidelines

Rules that set out a uniform sentencing policy for individuals and organizations convicted of felonies and serious (Class A) misdemeanors in the United States federal courts system

US Department of Justice (DOJ)

A federal executive department of the U.S. government, responsible for the enforcement of the law and administration of justice in the United States

UK Bribery Act

An Act of the Parliament of the United Kingdom that covers the criminal law relating to bribery (2010)

Transparency

As used in business, is operating in such a way that it is easy for others to see what actions are performed

Third party

Someone who may be indirectly involved but is not a principal party to an arrangement, contract, deal, lawsuit, or transaction. Companies use third parties to increase sales or assist in negotiations

The General Data Protection Regulation (GDPR) 2016/679

A regulation in EU law on data protection and privacy for all individuals within the European Union. It addresses the export of personal data outside the EU. It is enforceable from May 25, 2018

Tax haven

A country or independent area where taxes are levied at a low rate

State capture

A type of systemic political corruption in which private interests significantly influence a state's decision-making processes to their own advantage

Solicitation

Act or instance of requesting or seeking bid, business, or information. Unlike an offer, a solicitation is not a clear indication of the intention to enter into a binding agreement. (Cf. extortion)

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

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

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

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

Risk assessment

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