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Anti-Bribery Standard Aims to Reduce Business Risk and Liability

Newly published ISO 37001:2016, Anti-Bribery Management…

Newly published ISO 37001:2016, Anti-Bribery Management Systems—Requirements with guidance for use, intends to help organizations of all sizes combat bribery risk within their own operations and global value chains.

Designed by global businesses and stakeholders to emphasize operations and a risk-based approach, ISO 37001 specifies the requirements and provides guidance on how to establish, implement, maintain, review, and improve an anti-bribery management system. The system can either be stand-alone or integrated into an overall management system.

ISO 37001 addresses the following in relation to an organization’s activities:

  • Bribery in the public, private, and nonprofit sectors
  • Bribery by the organization
  • Bribery by the organization’s personnel acting on the organization’s behalf or for its benefit
  • Bribery by the organization’s business associates acting on the organization’s behalf or for its benefit
  • Bribery of the organization
  • Bribery of the organization’s personnel in relation to the organization’s activities
  • Bribery of the organization’s business associates in relation to the organization’s activities
  • Direct and indirect bribery (e.g., a bribe offered or accepted through or by a third party)

While ISO 37001 has the potential to reduce corporate risk, it does not specifically address fraud, cartels, anti-trust/competition offenses, money laundering, or other activities related to corrupt practices. However, organizations can choose to extend the scope of the management system to include these activities.

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