How does ADB define corrupt and fraudulent practices?
Corrupt and fraudulent practices under ADBs Anticorruption Policy are defined as follows: • corrupt practice – the offering, giving, receiving, or soliciting, directly or indirectly, anything of value to influence improperly the actions of another party (e.g. bribery, kickbacks, extortion, bid manipulation) • fraudulent practice any action or omission, including a misrepresentation, that knowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial or other benefit or to avoid an obligation (e.g. fraudulent claims like consultant timesheet, airfare, receipts/invoices; using lower rate personnel to perform work at higher rates; providing lower quality goods; false documents like curriculum vitae, bid security/bank guarantees, work certificates, financial statements, fictitious bids/borrowing names of firms; misrepresentation of educational background or full-time employment status) • collusive practice – an arrangement between two or more parties designed to ac
