In an important step for Indonesia’s first-ever private sector coalition against corruption, 450 business stakeholders and integrity professionals tuned in to hear about the initiative during Indonesia’s 2021 International Business Ethics Conference, an annual mega-seminar. The presentation revealed growing private sector interest in anti-corruption after a year where headlines were filled with numerous COVID-19 related corruption… Read More
As Indonesia celebrates 75 years of independence, local businesses are rallying behind the newly launched Private Sector Collective Action Coalition Against Corruption (CAC Indonesia) to combat corporate bribery. With 25 founding member companies, the new coalition launched in August, the same month as the national holiday. Though the CAC formally began operations in August,… Read More
Corruption doesn’t happen in a vacuum. Complex and poorly-implemented laws and regulations incentivize officials to demand bribes, while pushing companies to cut corners by paying the bribes. CIPE’s Integrated Compliance approach helps companies in emerging markets behave ethically by giving them the tools they need to comply with complex legal frameworks. CIPE’s Integrated Compliance approach… Read More
As highlighted in a previous Corporate Compliance Trends post about the importance of anti-corruption efforts in Indonesia, corruption is a major problem in the country. According to a Gallup poll, more than 8 in 10 Indonesians say that corruption is widespread throughout the nation’s government and businesses. Instances like the current corruption allegation involving the House… Read More
Corruption costs a lot of money for citizens around the globe. The World Economic Forum and the World Bank estimates that corruption reduces global GDP by 5% ($2.6 trillion) per year with over $1 trillion paid in bribes. For businesses, corruption makes up 10% of the total cost of doing business and up to 25% of… Read More