2010 to 2015 government policy: reducing corruption in international trade
Updated 8 May 2015
This policy paper was withdrawn on
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This publication is available at https://www.gov.uk/government/publications/2010-to-2015-government-policy-reducing-corruption-in-international-trade/2010-to-2015-government-policy-reducing-corruption-in-international-trade
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
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.