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Not a single company has been charged under the UK Bribery Act. The head of the Serious Fraud Office (SFO), however, says he will not be hurried into a prosecution and experts agree it will take time to bring a case to court.
The head of the Serious Fraud Office (SFO) has responded to critics of the UK's new anti-corruption legislation, confirming that the department has eight cases under investigation.
A Government Secretary of State has publicly praised the work of the Overseas Anti-Corruption Unit after a businessman who sold fake bomb detectors around the world was sentenced to seven years in prison at the Old Bailey.
The Serious Fraud Office has brought charges for the first time under the toughened anti-bribery laws, two years after the legislation came into force.
The Serious Fraud Office is investigating just two cases relating to the Bribery Act more than two years after the new law came into force.
German prosecutors have indicted Formula 1 motor racing boss Bernie Ecclestone on a bribery charge.
Police say GlaxoSmithKline channelled bribes to Chinese officials and doctors through travel agencies for six years to illegally boost sales and to raise the price of its medicines in China.
One person in four has paid a bribe to a public body in the last year, according to a survey carried out in 95 countries by Transparency International.
Businesses that wish to report their involvement in cartel operations in order to benefit from the leniency of the UK's competition regulator will not be obliged to waive their rights to legal professional privilege.
Under section 86 of the Enterprise Act 2002, the CC may prevent transactions which would take place outside the UK only if the company in question is incorporated in the UK or if it carries on business in the UK.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014