Corruption (lat. corruptus = corruptible; also: morally corrupt)
Corruption refers to bribery and corruption, accepting and granting of advantages.
In the legal sense, corruption means the abuse of a position of trust in administration, justice, business, politics or even in non-economic associations or organizations in order to obtain a material or immaterial advantage to which there is no legally justified entitlement.
It is in the vital interest of companies to prevent corruption, as it can lead to economic ruin.
On the other hand, companies with integrity can be exploited by market players who use bribes to obtain lucrative contracts and thus economic advantages. The aim must therefore be to effectively prevent corruption by as many market participants as possible.
See also:
Fairness; corporate mission statement; value orientation; economic crime; code of conduct
Reference to QET guidelines:
E01 Business Ethics; E17 Compliance; E02 Trust; E18 Fair Trade; E20 CSR; T01 Guidelines; T05 Contracts; T10 Suppliers