Values Added explores the emerging area of values-based anti-corruption approaches and offers insights for firms seeking to enhance their anti-corruption processes. 

Corruption is hugely damaging to global business, with a staggering £2.9trillion ($3.6tn) estimated to be lost annually in the form of bribes and stolen money. For those caught engaging in these practices, the costs can be huge, with Airbus, Rolls Royce and Ericsson just some of the companies that faced substantial fines in recent years. Meanwhile, a 2022 Global Economic Crime Survey highlights that corruption continues to be a challenge for businesses, with 46% of surveyed organisations reporting experiencing fraud, corruption or other economic crimes in the last two years. Despite this, many companies continue to opt for a purely rules-based approach that relies on policies and procedures to tell employees how to behave, but it is increasingly clear this alone is not sufficient when it comes to curbing corruption.

This report outlines practical steps to help companies through the key stages of implementing values to enhance their anti-corruption approaches: defining a company’s desired values, understanding those already in place, embedding values, and finally measuring their impact. It draws from focus groups, and interviews with experts from across business, government and academia, as well as existing literature.