Bribery and corruption remain significant fraud risks for businesses around the world. In 2018, the average organization lost about US$250,000 to bribery and corruption schemes, according to the ACFE Report to the Nations on Occupational Fraud and Abuse. KFTD is more than aware of this global fact alone. (Source: ACFE Report to The Nations 2018 – https://s3-us-west-2.amazonaws.com/acfepublic/2018-report-to-the-nations.pdf )
As a local medical company, KFTD is dedicated to preventing bribery and corruption. Applying an Anti-Bribery Management System (SMAP) is one of the steps that this company has already started taking.
The Anti-Bribery Policy in KFTD
As part of its commitment to preventing bribery and corruption in the company, KFTD has started applying its anti-bribery policy. This includes implementing an Anti-Bribery Management System (SMAP) so it can run the company free from bribery practices and support the implementation of GCG to stakeholders.
Their anti-bribery policy includes:
- Complying with all applicable laws and regulations.
- Having a zero tolerance towards all forms of bribery by involving all workers and parties of interests.
- Ensuring that each work unit and section carries out bribery risk assessments and controls.
- Establishing anti-bribery management system targets.
- Ensuring that the companyโs anti-bribery strategy and policies are running well.
- Ensuring the availability of resources when implementing the anti-bribery system.
- Periodically reviewing the effectiveness of SMAP in the context of continuous improvement.
- Communicating anti-bribery policies to stakeholders.
- Providing a violation reporting system (including indications of bribery).
- Determining sanctions and rewards for violations and employee participation in implementing the Anti-Bribery Management System.
- Determining the anti-bribery compliance function and its duties, responsibilities, and authority in the Anti-Bribery Management System.
The Conclusion of Managing The Risk Factors for Bribery and Corruption in KFTD
Identifying the risk factors for bribery and corruption in the company should not solely be the responsibility of management. Each staff member, including the employees, should also participate in doing so and avoid these risk factors. That has been the aim of KFTD all along.