Fostering business relationships or an inducement to improper performance
Corruption is the abuse of entrusted power for private gain. It corrodes the fabric of society, undermines people’s trust in political and economic systems, institutions and leaders and can cost people their freedom, health, money and sometimes their lives. Part of combating corruption is the identification and prevention of bribery through any method. Increasingly lavish hospitality, such as tickets and hospitality at major sporting events, has come under scrutiny more as a vehicle for bribery. Bribery is perhaps one of the more familiar white-collar crimes. The victims of bribery can include individuals and firms that lose out unfairly on business opportunities. More widely, victims can include both government and society more generally, undermined by a weakened rule of law and damaged social and economic development. The Oxford English Dictionary defines corporate hospitality as ‘The entertaining of clients by companies in order to promote business, especially at sporting or other public events’.