When corporate hospitality could equate to bribery -and other new risks arising from new Bribery Act
Wednesday, July 07, 2010 | Posted by: Fiona Cullinan
Categories:
Business advice
| Tags: governance,
report,
survey,
risk,
emerging markets,
compliance,
Bribery Act,
risk management,
competition,
bribery,
corruption,
anti-corruption,
liability,
ethics,
FCPA,
bribe,
hospitality,
criminal
The UK Bribery Act became law in April 2010 and will come into force later this year, creating a host of fresh risks to business and commercial organisations, and presenting a complex ethical conundrum. And yet, our survey suggests senior management frequently turn a blind eye to business conducted abroad at local or ground level in order to grease the wheels of industry.
So, exactly what are the risks – and more importantly how can you mitigate them?
