Towards an anti-corruption compliance framework for international hotel groups

Paraskevas, Alexandros and Chu, Yang (2014) Towards an anti-corruption compliance framework for international hotel groups. In: The Routledge Handbook of Hospitality Management. Routledge, Abingdon, UK, pp. 214-226. ISBN 9780415671774

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Abstract

Over the last decade, the international legislation related to corruption — in particular, bribery — has been significantly reformed (since the 1998 OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions) and has put significant pressure on organisations to act with integrity, especially when operating abroad. Compliance with the new legislation is becoming increasingly complex and the consequence of non-compliance may have substantial financial and reputational impacts on organisations. Recent high-profile cases include Balfour Beatty paying £2.25m over allegations of bribery in Egypt (Leigh and Evans 2008); Aon, which was fined £5.25m for failings in its anti-bribery and corruption systems and controls resulting in illegal payments to third parties to obtain business overseas (Essen 2009); and BAE Systems, which pleaded guilty to making false statements about its corruption compliance programme and was ordered to pay $400m (£288m) to settle bribery charges (Thompson 2010). These high-profile events highlight the vulnerability of many of today's global organisations to bribery/corruption risk and have brought anti-corruption compliance to the top of boardroom agendas.

Item Type: Book Section
Subjects: Hospitality and tourism
Depositing User: Rod Pow
Date Deposited: 11 May 2015 13:20
Last Modified: 24 Oct 2017 15:18
URI: http://repository.uwl.ac.uk/id/eprint/1177

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