Independent studies including the 11th Global Fraud Survey by Ernst & Young and Confronting Corruption by Price Waterhouse Cooper have shown that UK business is losing out overseas because of other companies’ bribery and corruption.
Bribery and corruption are barriers to trade and growth. Overseas corruption makes it harder – and more expensive – for UK firms to do business abroad.
We’ve strengthened the law. The Bribery Act 2010 came into force on 1 July 2011. It created a number of new offences:
- bribing a foreign official
- giving or promising an advantage
- receiving, requesting, or agreeing to receive an advantage
- failure of a company to stop a bribe being paid on its behalf
We’ve issued practical advice and guidance on bribery overseas for UK companies. This includes guidance on procedures to prevent bribery and guidance from the Serious Fraud Office on how they might prosecute.
The UK is also a part of:
- the OECD Working Group on Bribery in International Business Transactions
- the UN Convention against corruption
- the G20 anti-corruption working group
We also sponsor a website on dealing with international corruption.
Many of our trading partners – including China and Russia - are now passing laws against foreign corruption. Canada had its first foreign bribery case in 2011. Australia had its first prosecution in 2012.
We brought in the Bribery Act 2010 to support international trade by encouraging free and fair competition in business.
Who we’re working with
UK Trade & Investment (UKTI) can help businesses with information about corruption and bribery issues in more than 90 countries.
Transparency International UK (TI UK) provides independent, impartial training and advice based on extensive knowledge of good practice in the anti-corruption field.