Glossary

A

Accountability

Act according to which, the ones who plays certain functions explain regularly, what they’re doing, why it’s done, how much they spend and what they will do next . The work done it’s not only quantitatively accountable but also, self-assessed, to be known what has been achieved and to justify what failed. The accountability in this wide sense is greater the function is public, that is, when it comes to acts paid with taxpayers’ money.

Asset recovery

Legal process by which a State and / or a citizen (or citizen groups) identifies, locates and seizes goods or products related to crimes either internally or internationally.

Auditing

Internal or external control of the records, processes, functions and performance of an organization in order to perform a reliable and independent assessment of the level of compliance with laws and regulations.

B

Bribery

To give or promise an employee, an agent of the state or a third party the knowledge, material or intangible advantage that it is not due.

C

Clientelism

System of exchanging favors and resources based on unequal exploitation relationship between someone who has more power or wealth, and others more vulnerable socially or financially.

Code of Conduct

Statement which sets out the principles and values that should guide the conduct of an organization, government agency, company or group of people and provides minimum levels of compliance and disciplinary action in cases of its violation.

Collusion

Secret agreement between the parties with the purpose to conspire to commit acts (or omissions) with the intent to deceive or defraud others.

Compliance

Procedures, systems or departments of public or private organs, which ensure that all legal activities, operational and financial standards comply with the current standards.

Conflict of interest

Situation in which it is a person or entity (public or private) and in which the requirements of their position or function and their private interests are antagonistic or conflicting.

Conventions

International and regional agreements formally endorsed or adopted by ratification by several states in which they establish rules and standards on issues of transnational nature that typically require a common approach for the effective multilateral cooperation.

Corporate Governance

Procedures and processes that rule the way they manage, administrate and control the private sector organizations, including but not limiting, the relationships between the different relevant interlocutors, as well as their responsibilities and legitimate expectations.

Corruption

Abuse of power for their own benefit or for a third party.

Grand corruption consists of acts committed by one or more public officials at the highest level, involving the distortion of political or central functions of the state, and allowing the authors to benefit illegitimately, for themselves or others, from means, funds or community values.

E

Embezzlement

Situation that happens when people who occupy a position in an institution, organization or company, appropriate themselves, unlawfully, of funds or property entrusted to achieve personal enrichment.

Ethics

Set of rules and standards of conduct, aimed at achieving the common good, applicable to the government, businesses and individuals, members of a society based on values that guide their decisions and actions.

Extortion

The act of forcing someone to do or refrain from doing something, by threat or violence, with the intent to obtain advantage, reward or profit.

F

Facilitation payments

It is a small bribe, also called “streamlining “, made in order to secure or accelerate the performance of an usual or necessary act which is already entitled by the one who performs the payment in question.

Fraud

Consists in deliberately deceiving a third party, with the intention of obtaining an undue or illegal advantage (whether financial, political or otherwise).

I

Integrity

It refers to behaviors and actions consistent and compliant with the Law and with a range of standards and moral and ethical principles, adopted both by individuals and by institutions which operate as a barrier against corruption.

L

Lobbying

Activity carried out in order to influence a government’s or institution’s policies and decisions to favor a particular institution, person, cause or result.

M

Money laundering

Process by which, one hides the source, ownership or destination of funds obtained by criminal and fraudulent means, to incorporate them into legitimate economic activities.

N

Nepotism

It is favoritism based on social bonds and / or family, through which a person occupying an official position uses their power or authority to grant a favor to a family member or friend.

O

Offshore

Companies or bank accounts based in certain countries or jurisdictions, commonly nicknamed “tax havens” with less interference by the government of that jurisdiction and with very low taxes or no taxes that offer financial services to customers living under other jurisdictions.

Oversight

Independent process of research and monitoring – internal or external – the operations and activities of a government’s agency, company or organization of civil society, to ensure accountability and an efficient use of resources.

P

Political contribution

Any contribution in cash or in goods, to support a political cause, such as advertising or conducting promotional activities in supporting a political party.

Procurement

Set of logical and sequential procedures established for the acquisition of goods and services by individuals, businesses or other organizations, from the identification of need, through their evaluation until the allocation to the supplier of the goods or services.

R

Revolving Door

This expression refers to a person who alternates between public office and positions in private companies, taking advantage of the time they spend in the public office in order to benefit the companies where they previously worked or will work in the near future.

Rule of Law

The expression refers to the structures, practices, and legal and political systems that restrain the actions of a government and the different powers in order to protect the citizens’ rights and freedoms of, maintaining public order and promoting the effective functioning of the country, respecting the democratic legality.

T

Transparency

Quality of a government, company, organization or person to be open to disclosure of information, standards, plans, processes and actions. Politicians, officials and public managers have an obligation to act in a visible, predictable and understandable way. Also, the businesses and organizations top managers are required to transparency as a result of activities subject to legal regimes of granting or delegating authority, or a public function; activities subject to regulation or public oversight, and also, under the securities trading on regulated markets or stock exchanges and the relationship with the authorities. In general, companies, organizations and their leaders may voluntarily assume the principles of transparency, beyond their legal obligations, defending the values of integrity, good reputation, access to markets, valuation of their assets and long-term objectives .

W

Whistleblowing

The term refers to an alert made by an employee, officer or third party with the intent to reveal a situation of neglect or abuse in the activities of an organization, government agency or company (or one of its partners), which may represent a threat to the public interest, as well as to the integrity and reputation of the organization.