Transparency is a Must for Government to Crack Down on Corruption and Bribery

In an era of growing globalization and where the demand to stay atop the world leading markets is crucial to stay afloat in business, corruption within the economical atmosphere is an ongoing issue for companies and governments. The drive for even greater transparency grows between these two entities and the effort to become more accessible as well as more responsible is crucial.

In the article “Transparency International Calls on Governments to Crack Down on Foreign Bribery” Transparency International Chair, Jose Ugaz explains how both private and public sectors need to follow suit to combat the global issue of corruption and bribery:

“For the anti-bribery convention to achieve a fundamental change in the way companies operate, we need a majority of leading exporters to be actively enforcing it, so that the other countries will be pressured to follow suit,” unfortunately, we are a long way from that tipping point, and that means the vision of corruption-free global trade remains far away.” 

Although companies have an enormous role in their anti-corruption policies, governments have to abide by the same rules and regulations that they enforce themselves. As Jose Ugaz mentions, until these foreign governmental bodies heavily enforce their own policies to international business, the track of corruption and bribery will continue to be an on going concern.

Private and public sector entities are making some progress, albeit rather slowly, in combatting corruption. Most, if not all, need to develop a continuous program that maintains visibility and transparency so that these efforts are taking effect on the issue. Source Intelligence, a leading supply chain transparency provider, recently hosted an  “Anti-Corruption Crack Down” webinar that provides an in depth view of  effective anti-corruption practices, and key priorities for addressing supply chain risk. To view this webinar and for, use this link.

Source Intelligence® is the leading supply chain transparency company that provides a SaaS platform to help customers make informed decisions about their business partners and suppliers, so they can offer products that meet legal, ethical, and environmental standards. Its cloud-based platform and regulatory compliance and assessment services provide customers with visibility into their sensitive service providers, supply chain and material sources to minimize operational and brand risk, and improve efficiency for the world’s largest brands. Source Intelligence^® combines the best of cloud-based technology with a 24/7 Supplier Engagement Team to provide clients with the scalability, flexibility and expertise needed to turn supply chain and supplier data into a meaningful and actionable decision tool. Source Intelligence® is headquartered in Carlsbad, CA with operations that extend globally. www.sourceintelligence.com.