ISO 37001
International standard for anti-bribery management systems
Basel III
Global framework for bank capital, leverage, and liquidity standards.
Quick Verdict
ISO 37001 offers voluntary anti-bribery certification for all organizations, mitigating legal risks through due diligence. Basel III mandates capital and liquidity rules for banks, ensuring financial stability. Companies adopt ISO 37001 for ethics and trust; banks follow Basel III for regulatory compliance.
ISO 37001
ISO 37001 Anti-Bribery Management Systems
Key Features
- Certifiable anti-bribery management system standard
- Risk-based bribery risk assessment and controls
- Mandatory third-party due diligence requirements
- Leadership commitment and compliance function
- PDCA cycle for continual improvement
Basel III
Basel III Prudential Regulatory Framework
Key Features
- Strengthened CET1 capital requirements and buffers
- Non-risk-based leverage ratio backstop
- Liquidity Coverage Ratio for 30-day stress
- Net Stable Funding Ratio for structural resilience
- Enhanced Pillar 3 disclosure templates
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
ISO 37001 Details
What It Is
ISO 37001 is the international certifiable standard for Anti-Bribery Management Systems (ABMS). It specifies requirements to prevent, detect, and respond to bribery risks across organizations of any size or sector. Adopting a risk-based PDCA (Plan-Do-Check-Act) approach, it focuses on bribery (direct/indirect, public/private) while integrating with other ISO standards.
Key Components
- **Clauses 4-10Context, leadership, planning, support, operations, evaluation, improvement.
- Core controls: policy, risk assessment, due diligence, financial/non-financial controls, training, reporting.
- Built on Harmonized Structure (HS) for integration.
- Optional third-party certification with audits.
Why Organizations Use It
Mitigates legal risks (e.g., FCPA, UK Bribery Act), reduces liability via evidence of "reasonable steps". Drives efficiencies (15% compliance cost cuts), boosts reputation, enables market access. Builds stakeholder trust, supports ESG.
Implementation Overview
Phased: gap analysis, risk assessment, control design, training, audits. Scalable for SMEs/multinationals; 6-12 months typical. Certification involves Stage 1/2 audits, surveillance.
Basel III Details
What It Is
Basel III is the international prudential regulatory framework developed by the Basel Committee on Banking Supervision (BCBS) post-2007-09 financial crisis. It strengthens bank regulation through enhanced capital quality/quantity, leverage constraints, and liquidity standards, applying a risk-based plus non-risk-based multi-metric approach to individual and systemic resilience.
Key Components
- **Three PillarsPillar 1 (capital ratios: CET1 4.5%, Tier 1 6%, Total 8%; leverage ratio 3%; LCR/NSFR); Pillar 2 (supervisory review/ICAAP); Pillar 3 (disclosures for comparability).
- Buffers (CCB 2.5%, CCyB, G-/D-SIB).
- Output floor (72.5% standardized RWA), revised risk approaches.
- No fixed controls; compliance via national implementation.
Why Organizations Use It
Banks adopt for regulatory compliance (mandatory in most jurisdictions), resilience against shocks, reduced leverage/liquidity risks, improved market discipline via disclosures. Enhances funding costs, stakeholder trust, strategic asset allocation.
Implementation Overview
Phased enterprise transformation: gap analysis, data/system builds, model governance, training. Targets internationally active/large banks globally; ongoing supervisory audits, no central certification.
Key Differences
| Aspect | ISO 37001 | Basel III |
|---|---|---|
| Scope | Bribery prevention, detection, response via ABMS | Bank capital, leverage, liquidity resilience |
| Industry | All sectors, organizations worldwide | Internationally active banks primarily |
| Nature | Voluntary certifiable management standard | Mandatory prudential regulatory framework |
| Testing | Third-party certification audits, annual surveillance | Supervisory review, stress tests, disclosures |
| Penalties | Loss of certification, no legal penalties | Fines, asset caps, enforcement actions |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about ISO 37001 and Basel III
ISO 37001 FAQ
Basel III FAQ
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