Bribery and corruption are the abuse of power in exchange for personal or private gain.
What is bribery and corruption?
Bribery and corruption can happen within and outside a company. For example, powerful employees can use their status to promote themselves, friends, or families to high-ranking positions. This includes using a company’s money for personal gain.
External bribery and corruption can be used to improve a company’s standing with other organizations. Particularly with regulatory agencies, companies can use their status and money to create favorable regulatory environments for themselves.