On 9th December 2003, the United Nations agreed to end the World Day of Anti-Corruption. The primary goal is to corrupt cases and to strengthen the awareness of corruption.
What is corruption and when do I actually act corruptly?
Transparency International is a global association against corruption and undecessary as of “abuse of entrusted power for private benefit or advantage” . The briber and the bribed person are doing everything they can to hide their actions. Although not always obvious, this happens to be the disadvantage of a third party, which may be a person, group of persons or a company.
Common corruption practices:
- Cash payments and personal gifts
- Entertainment services and the misrepresentation of financial figures etc.
According to the Global Fraud study by Ernst & Young (2016) every third person would not disclose any possible act of corruption to the authorities in order to protect themselves. The Corruption Perceptions Index 2016 lists countries according to the degree of corruption among officials and politicians. Austria scores 17 out of 176 and can be found in the upper (positive) third of the value scale.
What does this mean for PALFINGER?
The above mentioned results clearly show that there is a need for action and that corruption will continue to be a serious issue in the future.
As a responsible company, we are aware of the duty to handle business transactions. For that reason, PALFINGER sees strict legal compliance as well as the fight against corruption as a major business issue. PALFINGER’s sustainability area of “Fair Business” . Our Code of Conduct serves as an entrepreneurial framework . On the company’s website there is the possibility to report legal and regulatory violations via the Integrity Line . This is primarily aimed at employees, suppliers and customers, who want to communicate anonymously.
Extract of PALFINGER Code of Conduct
Anti-corruption measures
Utmost integrity is expected in all business activities and relationships. Any form of corruption, bribery, blackmail, and misappropriation is strictly forbidden and can be reported anonymously via the Integrity Line at www.palfinger.com.
Gifts, hospitality services, invitations
Our ways of doing business and competing are based on quality and know-how. Employees may not allow themselves to be encouraged through favors, nor may they use favors to influence others. Employees may only accept hospitality services within the normal extent and token gifts that are appropriate for the circumstances. If there are any doubts the employee shall seek the advice and / or approval of the respective management. No employee may accept any other party, regardless of the value of the gift: money, loans, commission or similar advantages in monetary form.
