Impact of the UK's Bribery Act on global business

Sept. 20, 2011 - PRLog -- The Bribery Act, which came into force in July 2011, makes "failing to prevent bribery" a criminal offence for commercial organisations. It not only applies to UK-based companies but also those conducting business in the country, as well as to any individual "associated" with such an enterprise. This includes employees, agents and joint venture partners.

Firms globally must therefore implement with urgency a robust programme of compliance to minimise any risk of bribes being given or received. Behaviours likely to constitute bribery under the act could be anything including direct payments, lavish hospitality or unofficial cash handouts being undertaken on a company's behalf. Thankfully, businesses will have a complete defence if they can prove that adequate procedures were in place to prevent associates undertaking such unlawful conduct.

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