First Bribery Act 2010 prosecution 'acts as a timely reminder'

Oct. 14, 2011 - PRLog -- First Bribery Act 2010 prosecution 'acts as a timely reminder'

In the current climate of increasing regulation, introduced in order to control the effects of the global financial crisis and the boom in technology, businesses are having to ensure they remain in complete control of information retention, as well as eDiscovery and records management. A surge of regulations have been introduced this year, covering a range of issues from data protection to anti-money laundering but far and away the most contentious and widely-discussed has been the UK Bribery Act 2010, which came into force on July 1st 2011.

The legislation is much stricter than previous anti-bribery laws and attempts to ensure businesses take all steps within their power to prevent bribery in the UK and internationally. While the giving and receiving of bribes has been illegal for many years on the UK, the new Bribery Act has made headlines around the world for making it an offence for corporate firms to fail to prevent bribery by an associated person. It covers domestic and foreign companies and public officials that conduct business within the UK.

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