anti-corruption
Definition
Anti-corruption refers to the laws, policies, and business practices that prohibit offering or accepting bribes, kickbacks, or improper gifts to gain a business advantage. These rules apply to dealings with government officials, foreign governments, and sometimes even private companies. In the US, the main law governing this is the Foreign Corrupt Practices Act, and breaking these rules can result in massive fines and even criminal charges.
Example
If your company pays a foreign government official to fast-track a permit or win a contract, that payment likely violates anti-corruption laws even if bribery is common practice in that country.
Watch Out
Small businesses often get tripped up by treating gifts, entertainment, or "facilitation payments" as harmless gestures when they can actually cross the legal line into bribery.
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This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.