uk bribery act
Definition
The UK Bribery Act is a British law passed in 2010 that makes it illegal to offer, give, request, or accept bribes in both the public and private sectors. What makes this law unusually powerful is that it can apply to your business even if you are based outside the UK, as long as you conduct any part of your business there. The law also holds companies responsible if an employee or agent pays a bribe on your behalf, even if you personally knew nothing about it.
Example
If a sales representative working for your company secretly pays a foreign official to win a contract, your business could face criminal prosecution under this act even if you never approved or knew about that payment.
Watch Out
The only real defense against being held responsible for a bribe paid by someone working for you is proving that your business had strong, genuine anti-bribery procedures in place before the incident occurred.
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This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.