The Bribery Act
The Bribery Act 2010 has now been passed in UK Parliament and is due to come into force 1st October 2010.
The Acts defines four new criminal offences:
- offering or paying a bribe
- requesting or receiving a bribe
- bribing a foreign public official. (A specific offence required to comply with the OECD Convention)
- a corporate offence of failing to prevent bribery being undertaken on its behalf.
The Act includes employees and Top Management personnel such as Directors and may lead to a maximum of 10 years’ in prison and unlimited fines so this Act is not to be treated lightly.
It has been suggested that organisations need to put in place provisions to prevent the possible acts of bribery through “adequate procedures” designed to prevent bribery occurring. Gifts from clients and suppliers may constitute bribery.
The full Bribery Act 2010 can be downloaded from the OPSI website.