Globally, the World Economic Forum has estimated that the cost of corruption is about US$2.6 trillion a year, and it has a damaging effect on countries’ GDP, on businesses, on all stakeholders. It create some significant risks like reputation risk, financial risk, compliance risk, risk of penalties etc. and corporations need to put anti-corruption on the agenda. Companies and organizations like Rolls Royce, FIFA, Siemens, Petrobras, Odebrecht and many others have damaged their reputation so badly that it might never been the same again. Board Members, top managers and even employees have been convicted and companies have been fined billions of USD in fine. Corporations need to be proactive, mitigate the risk and prevent the business, top management, employees, investors and other stakeholders from corruption.
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