Pictured above: Tom Esler
An international crackdown on bribery is set to catch some UK
firms out.
With the country such a major trading nation those who turn a
blind eye are going to be in major trouble, according to Tom Esler,
head of litigation at MFG Solicitors in the Midlands.
UK firms are set to face tougher penalties for failing to
prevent corruption in future - even if they didn't know it was
taking place and carried out by a third party.
The Bribery Act - which was passed just before Parliament shut
down for the election - gave British prosecutors the power to
pursue companies which have failed to take "adequate procedures" to
prevent bribery.
The Bill had cross-party support and was introduced in line with
a push by the Organisation for Economic Co-operation and
Development to criminalise the act of bribing a foreign public
official in countries around the world.
"However, with the law remaining vague on what procedures need
to be introduced, there are fears that companies will be subject to
prosecution for failing to prevent bribery taking place on deals
which they are involved in, even if the actual bribe was paid by
someone else," cautioned Mr Esler.
"For example, a British firm which works abroad using an agent
who pays a bribe without the firm knowing, may still be held
responsible if they did not have procedures in place to prevent
corruption."
Guidance notes are set to be published later this year, but
reasonable measures could include raising awareness within the
company and providing training for staff.