The Bribery Act 2010 came into force with a fanfare in July 2011. Bringing the UK’s outdated laws up to the standard required by its OECD commitments, the UK Government promised a zero tolerance approach to bribery and corruption. With blanket bans on facilitation payments and corporate criminal liability for companies that failed to prevent bribery, the Bribery Act made the UK’s anti-bribery laws some of the strictest in the world. Yet two and a half years on, we have yet to see the first corporate prosecution. Together with the recently announced closure of the National Fraud Authority, the UK’s commitment to tackling bribery and corruption is now in question.
Hannah Nichols and Emma Gordon of Eversheds’ Fraud & Investigations Group take a look at the recent developments in bribery and corruption enforcement in the UK compared to the prosecution records of the US, China and Russia.