Knowledge@ASB: Securency: Lifting the Lid on Grey Money

A new inquiry into the activities of Australia's central bank subsidiary, Securency, has brought the prevalence of bribery in international business dealings back into the spotlight. Demands for "grey money" are commonplace when negotiating deals in many developing nations. While multinational boards may place a high emphasis on ethics, often it's their people on the ground who are left with the risky business of tackling the grey areas to get deals over the line. It's time for a public airing of this cross-cultural no-go zone, says international management professor Andrew Kakabadse. Major global third sector organisations, including the United Nations, need to open the debate so corporate board members can take their heads out of the sand.