Corruption in business

Afroza Begum

Journal of Financial Crime, 2020, vol. 27, issue 3, 735-754

Abstract: Purpose - This paper aims to critically analyse theCriminal Code Amendment(Bribery of Foreign Public Officials)Act 1999andCrimes Legislation Amendment(Combating Corporate Crime)Bill 2017with special focus on the facilitation payment (FP) defence by referring to the UKBribery Act 2010. The study will showcase how FP promotes disrespect for a good corporate culture inevitable for responsible and sustained business and as to why FP must be abolished to make the Australian regulation consistent with the international standards. Design/methodology/approach - This research is based on primary and secondary sources including the Senate Committee Reports and recent legislative developments in Australia, and the relevant law of the UK. Findings - Australia is lagging far behind comparative jurisdictions including the UK, and the FP defence must be abolished to make the Australian regulation consistent with the international standards and to foster international business backed up by globalisation, competition and interconnectedness of national economies. Originality/value - This paper is the original work of the author and has not been submitted elsewhere for publication.

Keywords: Australia; Legal approach; Business; Revisited; Facilitation payment (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-02-2020-0018

DOI: 10.1108/JFC-02-2020-0018

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