PRINCIPLES OF STRENGTHENING OF ANTI-CORRUPTION FOCUS OF BUSINESS ENTITIES IN ORDER TO IMPROVE THE MICRO AS MACRO-ECONOMIC SECURITY LEVEL

Abstract

This article is devoted to report about key highlights of recently developed global best-practice anti-corruption legislation, in particular of Switzerland, United States (U. S.) and in the United Kingdom (U. K.). As the risks of international business enhancement, regulatory bodies and prosecutors worldwide are becoming more vigilant in rooting out corruption. As a result we face with timely enacted legislation criminalizing bribery of foreign officials as well as private commercial bribery committed by local and multinational companies. Effective enactment of new legislation helps different judicial bodies successfully forestalled a clash of different jurisdictions as well as different legal systems. In described environment, business entities should remain informed and take pro-active position, maintaining error-resistant compliance programs. Mentioned steps are the best way to mitigate existing risks and present an effective defense to any investigation or prosecution. Existing trend towards zero tolerance to corruption, which reaffirms the need to comply with the principles of honesty, transparency and fairness in performing one’s work, as well as setting out specific anti-corruption measures to be adopted in relationships with stakeholders: partners, subsidiaries, suppliers and advisors, and co-worker is striking and irreversible. Companies with international business activities are well advised to ensure compliance with anti-corruption regimes enacted in Switzerland, in the U. S. and in the U. K. by implementing the necessary organizational measures to avoid the risk of serious consequences.