More than 80 mining leaders and risk and compliance professionals came together to launch the Bribery Prevention Network in Perth today.
Hosted by KPMG Australia, the Minerals Council of Australia and Australia-Africa Minerals and Energy Group, the launch showcased the Bribery Prevention Hub – a free online portal of resources that supports Australian businesses to prevent, detect and address bribery and corruption in domestic and international markets.
The Bribery Prevention Hub includes guidance on creating, reviewing and adapting company policies in line with anticipated anti-bribery law reforms.
KPMG Australia Forensic Partner, Dean Mitchell, said: “West Australian mining companies have been at the pointy end of unlocking value in emerging markets for decades and at the same time navigating complex foreign bribery risks. All Australian companies have a lot to learn from the West Australian experience, and mining companies in particular, so Perth seemed like the logical place to launch the Bribery Prevention Network to support all Australian organisations as they face this challenge head-on.”
CEO of the Minerals Council of Australia, Tania Constable, highlighted the need for, and benefits of ongoing preventative action in mining.
“Bribery and corruption have no place in mining, and the minerals industry has a mature risk framework on bribery and corruption. However, industry must remain vigilant of bribery and corruption risks. With increasing standards of corporate governance expected by investors, government and communities, there are enhanced reputation and long-term benefits for companies with strong corruption prevention measures in place,” Ms Constable said.
While bribery of a foreign public official is already a criminal offence under Australian law, the Bribery Prevention Network is working with Australian businesses to build awareness of anticipated law reforms which will expand the scope of criminal liability and make Australian businesses more susceptible to prosecution for foreign bribery offences.
Speaking at the event, AFP Financial Crime Specialist, Jeldee Robertson, said Australian corporates and small-to-medium enterprises run the risk of regulatory scrutiny or law enforcement attention if they do not have appropriate strategies to prevent bribery-associated conduct.
“The AFP’s strong preference is for Australian businesses to prevent bribery in the first instance, and initiatives like the Bribery Prevention Network allow us to educate businesses and enable them to implement strong anti-bribery controls.”
The Bribery Prevention Network identifies evolving foreign bribery laws as just one signal to Australian businesses to manage bribery risks more proactively.
The other, as identified by Ms Constable, is increased pressure from investors, governments and communities for businesses to uplift their corporate governance standards.
Kylie Porter, Executive Director of the Global Compact Network Australia, which is the host organisation for the Bribery Prevention Network, encouraged Australian businesses to access the Bribery Prevention Hub.
“The Bribery Prevention Hub is an essential tool for Australian businesses, particularly SMEs who may be time poor, to learn how to prevent bribery from occurring, detect it when it is, and to know what to do if an act of bribery has been committed.”