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Legal Briefing
Eversheds' Corruption Clampdown report published: businesses plead ignorance to new bribery and corruption laws
Practice Area: Contract of Employment and Statutory rights
Sector: Business services
Jurisdiction: England & Wales
Published: 01 March 2010
Law Firm: Eversheds
Overview
New laws which could put workers behind bars and hit companies with unlimited fines are passing into law unnoticed by UK businesses. According to research we have recently conducted, many businesses are in the dark over the new Bribery Bill, due to receive Royal Assent shortly, with 60 per cent of businesses in the financial sector unaware that failing to prevent bribery will be a criminal offence. A failure by a business to deal with bribery issues could lead not only to the individual directors facing prison but also the business facing a substantial fine.
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