Wednesday, July 15, 2009

Preventing corporate corruption


Modernising outdated bribery laws will make it easier to bring cases to court ­ and secure a conviction

The UK’s outmoded bribery laws ­ some of which date from 1889 ­ are to be replaced by legislation that will make it a criminal offence to give or offer a bribe in the UK or abroad, and will increase the maximum prison term from seven to 10 years.

A new draft bill also introduces a corporate offence of negligent failure to prevent bribery on behalf of a business and, for the first time, MPs and peers can be prosecuted in bribery cases.

The draft bill’s publication comes as 20 investigations are underway at the City of London Police’s foreign bribery unit. During Labour’s 12 years in power, only one UK company ­ BAE Systems ­ was prosecuted for foreign bribery, but that case spectacularly collapsed.

See full Article.