Legal frameworks are designed across the globe to prevent bribery and corruption, with national and international bodies implementing strict anti-bribery and corruption regulations. In the United Kingdom (UK), the relevant regulations are included in the Bribery Act 2010, which was enacted in July 2011.<\/p>\n\n\n\n
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The Bribery Act 2010<\/strong><\/p>\n\n\n\n The Act goes by the general definition of bribery, which is \u2018giving someone a financial or other advantages to encourage that person to perform their functions or activities improperly or to reward that person for having already done so.\u2019<\/p>\n\n\n\n In March 2011, then-Secretary of State for Justice Kenneth Clarke authored a document on the Bribery Act 2010. It provides guidance on procedures that can be implemented by relevant commercial organisations to prevent persons associated with them from bribing.<\/p>\n\n\n\n Clarke writes that the Act is directly beneficial for business as it creates clarity and a level playing field. \u201cIt also establishes a statutory defence: organisations which have adequate procedures in place to prevent bribery are in a stronger position if isolated incidents have occurred in spite of their efforts,\u201d he writes.<\/p>\n\n\n\n Clarke goes on to say that there is no real choice when it comes to implementing such a policy. \u201cWe don\u2019t have to decide between tackling corruption and supporting growth. Addressing bribery is good for business because it creates the conditions for free markets to flourish,\u201d he argues.<\/p>\n\n\n\n The anti-bribery policy is recommended for organizations that face a risk of someone who works for them or on their behalf being exposed to bribery. The policy could include the organization\u2019s approach to reducing and controlling the risks of bribery, rules about accepting gifts, hospitality, or donations, and guidance on how to conduct business. The anti-bribery policy can also include rules on avoiding conflicts of interest.<\/p>\n\n\n\n <\/p>\n\n\n\n IBE Guidance<\/strong><\/p>\n\n\n\n In 1986, the Institute of Business Ethics (IBE) was established to promote high standards of business behaviour based on ethical values. IBE states that organizations should be committed to doing business in an ethical manner by having a zero-tolerance policy on bribery and corruption.<\/p>\n\n\n\n They provide guidance on how organisations can do this.<\/p>\n\n\n\n \u201cThe key is to ensure your organization\u2019s culture promotes doing business with integrity – encouraging the right behaviour, discouraging the wrong behaviour and rewarding those who speak up about breaches of your code of ethics,\u201d IBE states. It adds that an organization\u2019s anti-corruption efforts are only adequate when they are aligned with a strong culture.<\/p>\n\n\n\n IBE guidance also states that organizations should take a zero-tolerance stand and not pursue a business that will require them or any group of companies to engage in unethical or illegal practices. \u201cThird parties need also to be able to demonstrate that they comply with this policy,\u201d IBE states.<\/p>\n\n\n\n <\/p>\n\n\n\n ABC Policy<\/strong><\/p>\n\n\n\n While an anti-bribery and corruption (ABC) procedure need not be overly complex, organisations would not want to overlook crucial factors and elements when designing their ABC policy. This is where a law firm UK can be of immense help.<\/p>\n\n\n\n Corporate legal services take into account the nature of the business and the industry to formulate anti-bribery and corruption policy for organisations. This is important as different organisations face different levels of risk and there is more room for bribery and corruption in some industries than there are in others.<\/p>\n\n\n\n Risk Advisory, in its 2020 Corruption Challenges Index, found that construction and development, infrastructure, and oil and gas remain the most challenging industry sectors globally. In a press release published in March 2020, Risk Advisory said, \u201cEurope continues to feature positively in the index and dominates the list of least challenging countries. It also has the lowest average corruption challenge score.\u201d<\/p>\n\n\n\n This is partly because of the legal frameworks in place to prevent bribery and corruption in Europe.<\/p>\n\n\n\n