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On Friday 24 September 2021, following requisition by the Serious Fraud Office (SFO), Petrofac Limited attended Westminster Magistrates’ Court where the company was charged with seven separate offences of failing to prevent bribery between 2011 and 2017.
Telecoms giant O2 is being investigated Serious Fraud Office reportedly over allegations of bribery involving the company’s executives.
In a market that is increasingly influenced by ethics and integrity, is it time you took a look at your bribery and corruption procedures. Failure to comply may not only be an offence but can have huge reputational damage.
The way in which the UK’s Competition and Markets Authority (CMA) examines the state of competition in markets, engages with companies over alleged breaches of competition law, and reviews markets and proposed mergers, is set to change.
Jessica Parker of Corker Binning reviews the U.K Bribery Act which came into force 10 years ago, and considers the impact of the the offense of failure to prevent the facilitation of tax evasion which was enacted six years later.
On 19 July 2021, the Serious Fraud Office (SFO) received approval by Mrs Justice May for separate Deferred Prosecution Agreements entered into with two UK-based companies for bribery offences. The two DPAs share a common Statement of Facts. The criminal conduct saw bribes paid in relation to multi-million pound UK contracts.
U.K. prosecutors have told Swiss authorities they have proof of an alleged money-laundering ring spanning from Africa to Europe that paid almost $380 million in cash bribes to authorities in the Democratic Republic of Congo.
The Serious Fraud Office has entered into a Deferred Prosecution Agreement (DPA) with Amec Foster Wheeler Limited (AFWEL) relating to the use of corrupt agents in the oil and gas sector. The DPA was approved yesterday, 1 July 2021, by Lord Justice Edis, sitting at the Royal Courts of Justice.
New workers’ watchdog will be created to protect the rights of UK workers.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014