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ISO 37001 Singapore - ANTI-BRIBERY MANAGEMENT SYSTEM STANDARD
Bribery poses a significant threat to businesses and their reputation, making strong preventive measures essential. ISO 37001 Singapore provides a robust framework to help organisations establish, implement, maintain, and continually improve an effective Anti-Bribery Management System (ABMS). As an internationally recognised standard, ISO 37001 Singapore aligns closely with the guidelines set by Singapore’s Corrupt Practices Investigation Bureau (CPIB) and integrates global best practices to address bribery risks. By adopting ISO 37001 Singapore, organisations can demonstrate their commitment to ethical conduct, strengthen internal controls, and reduce vulnerabilities to bribery-related incidents, ultimately enhancing trust and transparency across their operations.
Prevent, detect and address bribery by adopting an anti-bribery policy, appointing a person to oversee anti-bribery compliance, training, risk assessments and due diligence on projects and business associates, implementing financial and commercial controls, and instituting reporting and investigation procedures.
- ISO 37001 Singapore will support effective management of your business and help you meet customers’ requirements. It is suitable to any organisation that wants to improve customer satisfaction, staff motivation and build a culture of continual improvement.
- Help develop and provide assurance to the board and shareholders of an organisation that their organisation has implemented good practice anti-bribery controls
- Help establish that the organisation has implemented reasonable and proportionate measured designed to prevent bribery
Key Components of ISO 37001 – Anti-Bribery Management System (ABMS)
ISO 37001 is the international standard for establishing, implementing, maintaining, and improving an Anti-Bribery Management System. In Singapore, adopting ISO 37001 helps organizations prevent, detect, and respond to bribery risks across all operations.
Core Components
Anti-Bribery Policy
A formal, documented policy showing zero tolerance towards bribery and corruption.Leadership & Commitment
Senior management must actively support and promote anti-bribery efforts.Risk Assessment
Identify and evaluate bribery risks within the organization’s activities and relationships.Due Diligence
Conduct background checks on business associates, third parties, and transactions.Internal Controls & Procedures
Implement financial and non-financial controls to reduce bribery risk.Training & Awareness
Provide regular anti-bribery training to employees and relevant stakeholders.Reporting & Investigation
Establish secure channels for reporting suspicious behavior and ensure proper investigations.Monitoring & Review
Conduct regular audits, reviews, and continuous improvements to the ABMS.Corrective Actions
Take appropriate action to address and resolve any non-compliance or incidents.
Benefits of ISO 37001 Certification – Singapore
- Prevent Bribery Risks – Strengthen organizational defenses against bribery and corruption.
- Enhance Reputation – Demonstrate ethical business practices to clients, partners, and regulators.
- Build Stakeholder Trust – Showcase a commitment to compliance and integrity in all operations.
- Comply with Laws – Align with local and international anti-bribery regulations, including CPIB guidelines.
- Improve Business Opportunities – Gain a competitive advantage by meeting global anti-bribery standards.
- Foster a Culture of Ethics – Encourage transparency and accountability within the organization.
ISO 37001 Singapore - EDG GRANT FOR SINGAPORE BUSINESS'
Enterprise Development Grants (EDG) are grants provided by the government of Singapore to help organizations improve their competitiveness and capability. These grants are offered by Enterprise Singapore and provide funding support for activities such as consultancy, training, and certification projects. Here are some of the benefits of getting an Enterprise Development Grant (EDG) for ISO 37001 Singapore:
