In April of 2017, Hempel A/S self-reported a number of illegal sales practices that were discovered in Germany, as well as other countries in Europe and parts of Asia. A statement involving this situation with Hempel A/S has stated for the record, “The unlawful practices were stopped immediately and the people responsible were replaced. Hempel has completed internal remediation, invested heavily, and established a robust compliance framework.”
Bribery, when it comes to the law, is the act of giving or receiving something of value in exchange of influence that one would not normally have influence over. While in some rare legal situations this may be a possibly acceptable action to take, in most cases bribery is a highly punishable offense in the corporate world. That being said, according to the International Monetary Fund, an estimated $1.5 to $2 trillion changes hands every year when it comes to bribes.