LAW6A3: Bribery and Corruption

How to combat Bribery?

OECD: The OECD Anti-Bribery Convention establishes legally binding standards to criminalise bribery of foreign public officials in international business transactions and provides for a host of related measures that make this effective.

Bribery

The giving or offering of a bribe. Specific offence which concerns the practice of offering something, usually money, to gain an illicit advantage

Corruption

The misuse of entrusted power for private gain. An abuse of a position of trust in order to gain an undue advantage.

Impact of Bribery on Business

- cost money and operating margins are eroded - bribes do not garuntee success - paying bribes encourages further solicitation - valuable assets are lost - Legal expense

The 6 Principles of Bribery Prevention

1. Proportionate Procedure 2. Top level commitment 3. Risk assessment 4. Do dilligence 5. Communication and training 6. Monitoring and Review

Serious Fraud Office (SFO)

A specialist prosecuting authority in the UK, tackling the top level of serious or complex fraud, bribery and corruption.

Section 2 Bribery Act 2010

Being bribed

Section 3 Bribery Act 2010

Bribery of a foreign public official

Section 1 Bribery Act 2010

Bribing another person

Section 7 Bribery Act 2010

Failure of a commercial organization to prevent bribery