The Act was brought in with a lot of publicity in 2010. Its intention is to strengthen the bribery and ant-corruption laws in the UK which were thought to be weaker than elsewhere, such as the USA. Businesses are required to formulate anti-corruption policies to ensure they do not become involved in bribery even if the offence is committed by another party.
The Serious Fraud Office has just commenced its first prosecution. The case involves the promotion and sale of bio fuel investment products and relates to tree plantations in South East Asia. As well as offences under the Bribery Act there are prosecutions for fraud under the Criminal Law Act 1977.
The value of the alleged fraud is around £23m, which admittedly is a lot of money to be carrying in a brown envelope. This may seem a far cry from the business activities of most of us but it will be the first opportunity we have to see how the Act may work in practice and the attitude of the courts.
For further assistance or advice on the Bribery Act, please contact enquiries@jpclaw.co.uk or telephone 020 7625 4424
