UK Bribery Act

As companies push to grow their businesses internationally there is a temptation and danger for essential risk prevention measures to be overlooked in the quest to secure profitable contracts.With the advent of the Bribery Act senior managers must ensure that the methods used to win and operate those contracts don’t create a legacy that leaves their organisations vulnerable to allegations that their business was won by corrupt methods. This potentially catastrophic reputational damage can seriously affect a business’s ability to achieve it’s ambitions for growth.

Avoiding disastrous negative publicity and severe penalties.

Companies that fail to comply with the Act will inevitably feature in newspapers and online for shareholders, customers and employees to read about, or remain vulnerable to whistle- blowing, duress, and blackmail, and ultimately incur damaging financial penalties.

Shielding and enhancing your company reputation.

Encourage pro-active management of business reputation to avoid risks that could threaten company performance. Take a first important step to outperforming competitors - by outbehaving them.

Global Business

Operations in countries with a high incidence of bribery and corruption present the most serious risk area under the new Act. Also certain business sectors which face higher levels of corruption, factors such as the use of agents and intermediaries, and certain types of transaction, add to those risks.

Client Entertaining and Travel

Companies that regularly entertain business partners or engage government officials in social settings, must be aware of the heightened risks those situations can create.

Facilitation Payments

Small payments, such as those made to speed up customs processes, were already illegal under the previous law. However these payments now fall within the Bribery Act and penalties are expected to be harsher.

Using Agents

Companies face a new offence if anyone performing services for them, such as an employee, agent or supplier, pays a bribe on their behalf.

Government Interactions

The new offence of bribing a foreign public official is a significant risk for companies  with government interaction, particularly in high value and strategically important sectors such as telecommunications, healthcare, oil and gas, mining, defence and construction.

Charitable Contributions

If charitable contributions are made at the request of a public official, or in return for favours or services, they can be seen as bribes.

Non-UK Companies

The Act applies to all forms of commercial organisation, including corporations and partnerships, wherever they are incorporated, if they conduct business in the UK.