The Professional Standard sets the following definitions:
Bribery: The offer, promise, giving, demanding or acceptance of an advantage as an inducement for an action that is illegal, unethical or a breach of trust.
Corruption: The misuse of public office or power for private gain, or misuse of private power in relation to business practice and performance.
In addition to the Professional Standard firms and members must also abide by the Bribery Act 2010 which states that it is an offence to offer, promise, give, request, agree, receive or prevent a bribe or to make a gift to a foreign public official to influence their decision-making unless permitted by law.
Gifts and hospitality may be accepted if a reasonable person would consider them to be proportionate and reasonable for the business. Gifts and hospitality should be declined if it is felt that they will affect integrity or if it is felt that they are being offered to influence a decision. Consider what, and when, an offer is being made and if it is reasonable and proportionate.
The Professional Standard sets the following definitions:
Money laundering: Concealing the source of the proceeds of criminal activity to disguise their illegal origin. This may take place through hiding, transferring and/or recycling illicit money or other currency through one or more transactions, or converting criminal proceeds into seemingly legitimate property.
Terrorist financing: The solicitation, collection or provision of funds with the intention that they may be used to support terrorist acts or organisations. Funds appropriated directly or indirectly for this purpose constitute terrorist funding.
In addition to the Professional Standard firms and members must also abide by the Proceeds of Crime Act 2002, Money Laundering and Terrorist Financing Regulations 2022, Criminal Finances Act 2017, The Sanctions and Anti-Money Laundering Act 2018 and The Economic Crime (Transparency and Enforcement) Act 2022
Surveyors must:
Customer due diligence (CDD)/know your customer (KYC): Taking the appropriate steps to ascertain who the customer or client is and, if relevant, their ultimate beneficial owner is and counterparty. These can be relatively simple checks to verify the identity of the customer/client or may entail deeper investigations. This is a legal and regulatory requirement in many countries.
RICS Members and RICS Regulated Firms: