Russian companies are now required to take anti corruption measures

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Do you know that Russian law now requires companies to take anti-corruption measures? If not, we recommend that you read this article.

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Russian companies are now required to take anti corruption measures

  1. 1. RUSSIAN COMPANIES ARE NOW REQUIRED TO TAKE ANTI- CORRUPTION MEASURES In all respects Russia is taking increasingly significant steps to fight against corruption. These steps were evidenced by the ratification of the UN Convention Against Corruption in 2006 and the adoption of a special anti-corruption law in 2008. This law was amended in 2012 and requires all Russian companies to take concrete measures to prevent corruption. These measures may include: 1. Designation of subdivisions or officers responsible for the prevention of corruption and other offenses; 2. Cooperation of the organization with law enforcement authorities; 3. Development and introduction of standards and procedures aimed at ensuring fair operations of the organization; 4. Adoption of a code of ethics and official conduct of employees of the organization; 5. Prevention and regulation of conflicts of interest; 6. Prevention of creation of false account reporting and use of forged documents. The obligation of companies to take preventive measures against corruption went into force on January 01, 2013. The Code of Administrative Offenses provides for liability of a company if any person in the interests of or on behalf of such company bribes public officials or the management of another company so that such official or management takes or refrains from taking actions related to the position they hold. In the event of a bribe, a fine may be imposed on the company in the amount of up to one hundred times the value of money, assets, services, or other property rights illegally transferred or provided or promised or proposed on behalf of the legal entity. A company is deemed guilty of such offense if it had the opportunity to prevent the receipt by an official of a bribe on its behalf. We therefore strongly recommend developing policies aimed at preventing corruption in your company and introduction of procedures aimed at ensuring fair operations. We also believe that it would be advisable to conduct an anti-corruption training. www.awaragroup.com info@awaragroup.com Global Call Center: +7 (495) 225 30 38
  2. 2. Page 2 of 2 Awara has extensive experience in developing such policies and conducting such trainings. We would be happy to offer these services to you. Should you have any further questions, please do not hesitate to contact us. Anton Kabakov Partner anton.kabakov@awaragroup.com Mobile: +7 921 397 1193 Global call center: +7 495 225 3038 Samuli Pesu Partner samuli.pesu@awaragroup.com Mobile: +7 926 710 4361 Global call center: +7 495 225 3038 www.awaragroup.com info@awaragroup.com Global call center: +7 (495) 225 30 38

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