On Thursday 5 March, the School of Business, along with Luca Prague, will jointly host a networking seminar on the legal impact and negative economic consequences of bribery in business. The expert panel will also offer standards and solutions to best combat from a governance point of view, as well as tackle issues around compliance in areas in areas such as Data Protection, Product Safety, Information Security, Anti-money laundering and more.
Bribery is a problem present in all nations, rich and poor, North and South, developed and developing, and crosses all levels of society, regardless of cultural frameworks and background. According to estimates from the World Economic Forum, the global cost of bribery and corruption is at least $2.6 trillion, or 5% of the global Gross Domestic Product (GDP).
Following on from these estimates, businesses and individuals pay more than $1 trillion in bribes every year. To paraphrase the words of Secretary-General António Guterres at the Security Council of the UN in 2018, bribery and corruption are at the root of social disunity and often testify a political dysfunction that lead to disillusion with institutions and governance.
This seminar will highlight the "bribing business" in terms of social costs and a stakeholder view, but also will explain how different types of governance frameworks attempt to deal with this phenomenon in practice. Particular emphasis in the governance discourse will be given to standards and related management systems that could provide viable tools in fighting bribery and could potentially lead to enhancing the value chain of business organizations, providing more transparent and rigorous control and auditing processes within corporate citizens in the global environment.
Presentations will be made by Dr Stefano Cavagnetto, Head of Prague College's School of Business, Dr Roberto Di Cursi from Luca Prague, Rolf Herberg from Rina Germany & a representative from Havel & Partners Law Firm.
A Q&A session will be conducted after the presentations, allowing delegates the chance to discuss strategies and conclusions drawn from the event. This will be followed by a networking buffet.
This event is free to attend, but registration is essential as seats are limited. Please RSVP by 24 February to: firstname.lastname@example.org or via this link.