Since the 1990s, business corruption is a topic that has been discussed widely. Its emergence in modern times as an important issue can be traced to the 1970s and the US Watergate scandal. Whilst we had a raft of legislation during the 1990s from regional and international law-making institutions such as the OECD, the African Union and the United Nations, business corruption remains a major issue of concern due to difficulties surrounding the enforcement of anti-corruption laws. Against this bac…
Read moreSince the 1990s, business corruption is a topic that has been discussed widely. Its emergence in modern times as an important issue can be traced to the 1970s and the US Watergate scandal. Whilst we had a raft of legislation during the 1990s from regional and international law-making institutions such as the OECD, the African Union and the United Nations, business corruption remains a major issue of concern due to difficulties surrounding the enforcement of anti-corruption laws. Against this background, this chapter considers whether self-regulation in the form of Corporate Social Responsibility (CSR) is a better tool to tackle business corruption. Or is it, lacking enforceability, a creature without teeth, and therefore incapable of bringing about a sea change in business attitude towards business corruption? Should we instead focus more on ethics and integrity to find a feasible solution to tackle corruption in the business sector? This chapter argues that the anti-corruption narrative needs to move beyond regulation and self-regulation to bring about meaningful change in tackling business corruption.