The new Bribery Act 2011 became law on 1 July 2011. To comply, companies must be pro-active in identifying and managing the risk of corruption in their business.
Bribery is widely defined, including:
- Overly lavish corporate hospitality
- bribery committed by overseas associates
- facilitation (or ‘grease’) payments made to foreign government officials to speed up customs clearance.
Businesses commit a new offence of ‘failing to prevent bribery’ if any employee, etc commits bribery with the intention of gaining a business advantage for the company, and the company has not put ‘adequate procedures’ in place to prevent it. You need know nothing about the bribery– the lack of procedures plus the bribery is all that is needed for the crime.
Act now! Contact us if you would like more information about this or would like us to review your current procedures and suggest where they could be changed or improved. Please contact Martin Addrison or Paul Hillier at HilliersHRW on 01234 858000.
