The fight against corruption is a global issue, and anti-bribery and corruption compliance (ABC) serves as an ethical compass guiding businesses and institutions in a world where integrity is crucial.

What is Anti-Bribery and Corruption Compliance (ABC)?

Anti-bribery and corruption compliance (ABC) encompass a set of measures, policies, and procedures implemented by organizations to prevent, detect, and remedy corruption in all its forms, with a particular focus on bribery. The primary goal of ABC compliance is to ensure that companies and institutions adhere to anti-corruption laws and regulations while promoting a culture of ethics and integrity within the organization.

Herein are some key points to better understand anti-bribery and corruption compliance:

• Anti-Corruption Prevention: Implementation of strict policies prohibiting the payment or solicitation of bribes, along with procedures to ensure all employees understand and adhere to these rules.
• Anti-Corruption Laws: These laws vary from one country to another, and ABC compliance ensures that organizations comply with these laws, such as the U.S. Foreign Corrupt Practices Act (FCPA) or the United Nations Convention against Corruption.
• Due Diligence: Before entering into business partnerships or significant transactions, organizations often conduct due diligence to assess potential corruption risks. This may include reviewing the backgrounds of business partners and third parties.
• Reporting Mechanisms: ABC compliance encourages the establishment of confidential reporting mechanisms, allowing employees to anonymously report any suspicious behavior related to corruption without fear of retaliation.

In addition to Anti-Bribery and Corruption (ABC) compliance, a crucial complementary approach in the fight against corruption is ISO 37001. While ABC focuses on internal measures and organization-specific policies, ISO 37001 provides a certifiable international framework for corruption prevention. Structured in detail, this standard covers various aspects such as defining responsibilities, establishing anti-corruption policies, employee training, risk management, and more. Its certifiable nature allows organizations to have their Anti-Corruption Management System (ACMS) assessed by independent bodies, providing external recognition of their commitment to corruption prevention. Compatible with other management standards, ISO 37001 offers a systematic, international, and recognized way to effectively combat this scourge, reinforcing the integrity and transparency of business operations.

African Context: Risk Awareness and Compliance Integration

Risk awareness holds paramount importance. Stakeholders in Africa need to be equipped to better understand the various forms that corruption can take, from traditional bribes to more subtle practices, through adequate tools. This will not only help recognize these risks but also anticipate and prevent them. The integration of high ethical standards into the commercial fabric of the continent is a crucial element of this struggle. It involves creating a culture where businesses operate with integrity, establishing robust mechanisms to prevent, detect, and remedy corruption.

This requires strengthening existing legal frameworks, promoting transparency within institutions, and encouraging close collaboration between the public and private sectors. The integration of anti-bribery and corruption compliance becomes a strategic tool for businesses operating in Africa.

ETC – Export Trading & Cooperation: An ABC Compliance Model

ETC, as an Italian institution active in the finance industry, recognizes the central role of ABC compliance in preserving integrity. For this reason, ETC is a member of the United Nations Global Compact (UNGC) and, on the occasion of the 20th anniversary of the United Nations Convention against Corruption, urges governments to emphasize the fight against corruption and good governance as key pillars of sustainable development.

Therefore, it applies the organizational model according to the Legislative Decree of June 8, 2001, no. 231, an Italian law crucial in the anti-corruption fight. This law obliges companies and organizations, regardless of their size or sector, to establish systems for preventing corruption and fraud. This legislation also establishes criminal liability, with sanctions including fines, license suspension, and bans on business activities for non-compliance. The fundamental objective of this law is to promote a culture of ethics and responsibility within Italian companies and organizations, aiming to prevent corruption and ensure transparency and integrity in business.

ETC implements a Know Your Customer (KYC) process on each counterparty before initiating any activity, following European directives about anti-money laundering (AML), countering terrorist financing (CTF), and anti-bribery and corruption (ABC). These preventive checks allow us to assess potential risks, including corruption, before engaging in any significant collaboration or transaction, ensuring ethical partnerships.

ABC compliance is not just a regulatory requirement; it guides ETC in its commitment to transparency, ethics, and integrity. By adopting this approach and implementing rigorous practices, ETC strives to create a business environment where corruption is unacceptable, thereby enhancing partner trust and contributing to the promotion of high ethical standards.

On this International Anti-Corruption Day, it is imperative to promote ABC compliance in the African context. ETC’s practices demonstrate the effectiveness of a model where transparency, ethics, and responsibility are essential pillars for an ethical economic future in Africa. The fight against corruption is not just a legal obligation but an investment in sustainable stability, growth, and prosperity within African markets and beyond.