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Follow on Google News | Methods to Avoid UK Bribery Act Violations and Ensure ComplianceComplying with the U.K. Bribery Act needs to be a company-wide effort from top to bottom.
· Extending an offer or promise of a bribe and/or fulfilling the bribe · Requesting, agreeing to or receiving a bribe · Bribing a foreign official · A commercial organization that did not take appropriate action to prevent a bribe Complying with the U.K. Bribery Act needs to be a company-wide effort from top to bottom. Partnering with a qualified language services provider (LSP) can help an international organization localize and translate compliance programs that will be disseminated to its workforce. The Bribery Act was initially put in action to focus on improper transactions with government officials, but the revision of the 2010 guidance expanded to commercial bribery as well.1 The threat of Bribery Act violations is real (http://www.merrillbrink.com/ Although the Bribery Act does encompass all facets of bribes, there are ways for a business to avoid these types of situation. As mentioned, partnering with an LSP can make sure message in multiple languages (http://www.merrillbrink.com/ Outside of the company, agents, subsidiaries, partnerships and suppliers can also be accountable. Liability can be assessed by an organization lacking proper procedure for handling financial payments and transactions, even if no attempt at a bribe was ever made. Multi-jurisdictional investigations are on the rise for offenders. The U.K. Serious Fraud Office (SFO), U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) are working together and providing information when a violation occurs within their region. The organizations may evaluate issues differently, which is another reason a company needs to be prepared for any potential investigation. Matters can complicate even further when doing business in countries using a different language than where a company traditionally operates. One of the biggest differences between U.S. laws and the U.K. Bribery Act of 2010 are the banning of facilitation payments. There are times when payments of this nature can be utilized in the United States, but October 2012 amendments to the Bribery Act state, “A facilitation payment is a type of bribe and should be seen as such.” The best way a company can avoid U.K. Bribery Act violations is to install a company-wide compliance system that is comprehensible by all employees and can be applied to every situation a business might encounter. An LSP can assist with translating company materials about compliance efforts, legal documents (http://www.merrillbrink.com/ Read the full article at http://www.merrillbrink.com/ References: 1. Bribery Act 2010. U.K. Legislation. April 2010. 2. As Corruption Concerns Rise, Few Fear U.K. Bribery Act: Deloitte Poll. Deloitte. June 2012. 3. Companies face bribery crackdown after new SFO rules. The Telegraph. October 2012. About Merrill Brink International Merrill Brink International (www.merrillbrink.com) Merrill Brink is recognized in the industry for its commitment to quality and its pioneering approach of leveraging technology to reduce costs, eliminate redundant processes and accelerate translation life cycles. Merrill Brink is certified to ISO 9001:2008; ISO 27001:2005 and ISO 13485:2003, and registered to EN 15038:2006 and ISO 14971:2007. Together, these standards provide assurance that the most stringent process and quality standards for translation are followed. Merrill Brink International is a wholly owned subsidiary of Merrill Corporation. End
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