Corruption and Bribery

In: Business and Management

Submitted By jhmrris2
Words 1781
Pages 8
Corruption and Bribery
April 29, 2015


In this paper, I will be writing about corruption and bribery. I will define the terms and go on to explain the regulations that have been put in place to stop corruption and bribery. I will then go on to give examples of major corruption and bribery scandals that companies have recently been in and what has been done to punish said companies for their crime.


Corruption is defined in the Merriam-Webster Dictionary as “dishonest or illegal behavior especially by powerful people (such as government officials or police officers), the act of corrupting someone or something, and something that has been changed from its original form”. (Merriam-Webster) Bribery is defined as “something valuable (such as money) that is given in order to get someone to do something”. (Merriam-Webster). A bribe can be from person to person, company to company, or even country to country and it is considered a crime in most parts of the world. Many would agree that there is a lot of bribery and corruption in modern day politics as well as International companies, but I will not be going into that for it is another huge topic. “Bribery and corruption are major obstacles to socio-economic development and distort national and international economic relations.” (IBE) This corruption is seen as an unfair advantage for companies with a lot of money to throw away to get what they want and is considered very unethical in the eyes of lawmakers. In order to fight against corruption, “…nation states and international bodies have drawn up regulatory frameworks to help fight corrupt practices.” (IBE)

International Frameworks and Regulations

The first framework that was made to combat bribery and corruption is the OECD anti-bribery Convention. “The OECD Anti-Bribery Convention establishes legally binding standards…...

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