Bribery and Corruption

The spectre of fraud and corruption can hang over any business, irrespective of industry or jurisdiction. Though companies have made great strides to address the risks, COVID-19 has changed the paradigm. The mass migration to remote working in response to the pandemic means more employees are operating with reduced oversight. Now more than ever, companies must implement strategies to prevent fraud to the extent possible. Regular training to help employees recognise fraud should be carried out, as they form the vanguard when it comes to raising red flags. Anonymous reporting systems also encourage staff to come forward with information. If fraud is detected, a thorough investigation should follow, and it may be necessary to notify and cooperate with authorities.

The French Anti-Corruption Agency (AFA) has just published the English version of its revised anti-corruption compliance Guidelines. Reflecting three years of experience in implementing France’s landmark Sapin II law, the Guidelines lay out the agency’s recommendations for both the public and private sectors.

In France, bribery isn't needed to violate the anti-bribery law | The FCPA Blog

The scourge of modern slavery has risen steadily up the public agenda in recent years and it is incumbent on ICAEW members to be vigilant about it, writes ICAEW CEO Michael Izza.

Ending Modern Slavery: why accountants have a role to play | ICAEW

Following a thorough investigation of the available evidence, the SFO has closed its investigation into the activities of KBR, Inc.’s United Kingdom subsidiaries, their officers, employees and agents. The evidence in this case did not meet the evidential test as defined in the Code for Crown Prosecutors.

SFO closes investigation into KBR Inc.’s UK subsidiaries - Serious Fraud Office

Two former directors of Northern Ireland-based FP McCann have been banned from running businesses because of their role in an illegal construction cartel.

Company bans for price fixing McCanns (theconstructionindex.co.uk)

In March 2020, the CMA launched a programme of work to identify, monitor and respond to competition and consumer problems arising from coronavirus and the measures taken to contain it. Since then, regular updates and information have been published on the CMA coronavirus (COVID-19) response pages on GOV.UK.

https://www.gov.uk/government/publications/update-on-work-of-the-cma-during-the-coronavirus-pandemic-15-march-2021/protecting-consumers-during-the-coronavirus-covid-19-pandemic-update-on-the-work-of-the-cma

Paul Bond has today been sentenced to three and half years’ imprisonment for conspiring with others to bribe Iraqi public officials to secure lucrative oil contracts in post-occupation Iraq.

https://www.sfo.gov.uk/2021/03/01/fourth-oil-executive-sentenced-for-paying-bribes-to-win-a-multi-million-pound-contract-in-post-occupation-iraq/

The SFO has today secured the conviction against a former Single Buoy Moorings Inc. (SBM) executive who conspired to bribe public officials in order to secure lucrative oil contracts in the years following the overthrow of Saddam Hussain in 2003.

https://www.sfo.gov.uk/2021/02/24/fourth-executive-convicted-of-bribery-in-post-occupation-iraq/

A keenly anticipated report on how the UK's competition and consumer law regimes should be updated and modernised following the UK's exit from the EU and as it recovers from the pandemic has been published.

Deferred prosecution agreements (DPAs) continue to mark the key developments in anti-corruption case law, with two in the past 12 months and eight in total