A new business tool designed to fight bribery is now published. ISO 37001 is the first international anti-bribery management system standard designed to help organizations combat bribery risk in their own operations and throughout their global value chains. It has the potential to reduce corporate risk and costs related to bribery by providing a manageable business framework for preventing, detecting and addressing bribery.
“Bribery is a significant business risk in many countries and sectors,” says Neill Stansbury, Chair of ISO project committee ISO/PC 278 responsible for the new standard. “In many cases, it has been tolerated as a ‘necessary’ part of doing business. However, increasing awareness of the damage caused by bribery to countries, organizations and individuals has resulted in calls for effective action to be taken to prevent bribery.”
Many organizations have already invested significant time and resources into developing internal systems and processes for preventing bribery. ISO 37001:2016, Anti-bribery management systems – Requirements with guidance for use, is designed to support and broaden those efforts, while providing transparency and clarity on the measures and controls that organizations should be putting in place and how to implement them most effectively and efficiently.