The U.K. Bribery Act 2010 taking effect July 1 represents one of the biggest changes in global anticorruption law since the USA Patriot Act in 2001, but awareness of its provisions remains very low, according to a Deloitte webcast poll.
While 78% of respondents who participated in the poll said there will be greater global anticorruption enforcement in the next year, nearly as many (73%) said they are unfamiliar with provisions in the U.K. Bribery Act.
But U.S. companies with offices or sales activities in the U.K. need to get up to speed with its provisions, experts warn, since the law applies both to companies that are incorporated in the U.K. as well as companies that conduct business there, whether they have a physical presence in the country or not.
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