The company director gave S$130,000 in bribes, with S$100,000 to a business associate.
Singapore ranks in various publications as one of the least corrupt countries in the world. However, low corruption does not mean there is no corruption.
Bribery and corruption undermine the rule of law and fair competition.
Organizations need to proactively establish, implement and monitor the company’s risk management framework and policies across various departments, especially the high-risk ones.
The board of a company is ultimately responsible for risk governance, directors & business leaders have an important role to play in shaping bribery and corruption risk controls within their organizations.
Organizations absolutely need to think & rethink their perception of “best practices” in fighting corruption because "There will always be fraud"
Coming to you in May 2023 is a 2 days seminar on Fraud Investigation & Risk Management - https://bit.ly/41AGz3X.
Join us & master the techniques from Tommy Seah, ACFE Regent Emeritus, the world's largest Anti-Fraud Examination Body.