Radical anti-bribery legislation passed in the dying days of the last administration gives the UK one of the toughest legislative frameworks in the world for tackling corrupt payments made here and abroad. The Bribery Act 2010 targets corporate behaviour in particular by introducing a new offence of failing to prevent bribery. The Act also creates new general offences of bribing and receiving bribes linked to ‘improper performance’ and a new specific offence of bribing a foreign public official.
Until recently no company had been successfully prosecuted in the UK for corruption-related offences. Stung by a barrage of international criticism, the UK authorities responded by reaching agreements under which companies pleaded guilty either to bribery or related offences in return for lighter penalties. Recent high-profile prosecutions in Germany and the US of blue-chip companies including Siemens, Daimler and BAE have also placed bribery firmly on board agendas. The stakes are high – fines that can reach astronomical proportions, the threat of permanent exclusion from public sector contracts and prison for individuals directly involved.
