Bribery is one of the most commonly reported economic crimes in the UK, with nearly one quarter of British businesses having been exposed to it in some form.
It is against the law for companies based in the UK to pay or take bribes to gain business anywhere in the world. It is also a criminal and a corporate offence if a company is found to have failed to prevent bribery. If found guilty, companies can face unlimited fines, while individuals can be handed an unlimited fine and 10 years in prison.
The Bribery Act 2010 is the strongest anti-bribery legislation ever introduced in the UK. It not only defines what is bribery, but places responsibilities on businesses that operate in terms of compliance, awareness and staff training.
Understanding the act – and the consequences of not implementing it fully and properly – is essential to protect you, your business and your employees.
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