ISO 37001: Business tool to help fight bribery
Akhbar Satar | 09 Jun 2017 00:30

According to the International Monetary Fund, about US$2 tril in bribes are paid each year. The adverse effects of bribery are many. They include undermining economic, political and social stability, which can ultimately cause damage to a nation’s reputation or image and also loss of investor confidence. Even though countries all over the world have enacted various legislation and international agreements to tackle the problem, corruption still remains a significant concern globally.

Now a movement is afoot to create a uniform anti-corruption compliance standard for companies around the world. Last October, the International Organisation for Standardisation (ISO) released and published the ISO 37001 anti-bribery management systems. The ISO is an independent, non-governmental organisation whose members are the national standards bodies from 163 countries.