From 3 May 2015, businesses in the UK will face new risks as a reform in the law will mean that those enabling the criminal activities of an organised crime group, including professionals, can be prosecuted more easily. It is important that all businesses are alive to the risk of not asking questions, or of … Continue Reading
The UK’s Serious Fraud Office is gradually lengthening the role of prosecutions for overseas corruption with an important new prosecution, and clear indications that more are in the pipeline. The new case involves Smith & Ouzman, a printing company, and four individuals connected with it. The company and some of its officers are accused of … Continue Reading
For the first time, the UK has proposed a specific and detailed sentencing regime for corporations involved in bribery, fraud and other economic crimes. Of course, individual executives who commit crimes of dishonesty can generally expect prison time. Corporates can’t be locked up, but they can be fined and/or have other penalties applied. Up to … Continue Reading
On 23 April 2013, Mr Yang Li was the third individual to be convicted under the UK Bribery Act 2010 after he attempted to bribe his tutor. Mr Li, a student at the University of Bath, offered his tutor £5,000 to amend his dissertation grade, which was 3% short of a pass mark. The tutor … Continue Reading
This post was written by Robert Falkner and Tom Webley. In March 2012, The Financial Services Authority (“FSA”) published the results of its thematic review into the policies and procedures that investment banks have in place to prevent their employees from paying or receiving bribes. Click here for more information on the background to this … Continue Reading
The Financial Services Authority (“FSA”) recently announced its intention to carry out a thematic investigation of the policies and procedures that investment banks have in place to prevent their staff and agents from paying or receiving bribes. Click here for the full speech. This coincides with the coming into force of the Bribery Act 2010 … Continue Reading
This post was written by George Hoare. On 6 June 2011, the European Commission (EC) outlined measures to tackle the problem of corruption within the European Union (EU). According to figures quoted in the press release, four out of five EU citizens regard corruption as a major problem in their Member State, with corruption estimated … Continue Reading
On 30 March 2011, the Serious Fraud Office (SFO) and the Director of Public Prosecutions published their joint guidance for prosecutors (the Guidance) for offences under the UK’s new Bribery Act, which comes into force on 1 July 2011. This coincides with the publication of the final guidance issued by the Department of Justice on … Continue Reading
The waiting is over! At last the UK Ministry of Justice has published guidance about procedures which commercial organisations can put into place to prevent persons associated with them from bribing. The Act will now come into force on 1 July 2011. The guidance offers non-prescriptive procedures and commentary on the scope of the Act. … Continue Reading
Two former directors of engineering firm Mabey & Johnson received custodial sentences today, having been found guilty earlier this month of inflating the prices paid under humanitarian contracts to provide steel bridges to ensure that kickbacks of over Euros 420,000 could be paid to Saddam Hussein’s government. The directors, Charles Forsyth and David Mabey, who … Continue Reading
