Bribery and corruption is an area of corporate law that tends to get a lot of attention thanks to its magnitude. Corporate crime defence lawyers will almost always be present during a bribery and corruption case. With so many legal issues surrounding the city, finding corporate crime defence lawyers London is an important task.
With the introduction of a new bribery act, there is more of a need than ever for companies to understand the legislation.
Here are the main factors of the act:
1. The promise, giving and offering of bribes 2. Agreement to accept a bribe 3. Bribing of a foreign official 4. Not preventing bribery
Penalties doled out for these crimes can be huge in magnitude. For this reason, it is vital to consult corporate crime defence lawyers.
So what does bribery and/or corruption entail?
By its very nature it can be difficult to define as it usually involves two or more people entering into a secret agreement. In general, it is widely considered to be the offer of money or gifts to alter someone's behaviour. There are numerous types of bribery, with different levels of severity dependent on the corruption involved.
Companies will be able to defend themselves in such cases if they have the correct procedures in place and follow some principles:
1. The procedures/action should be proportionate to the risks the business takes as well as its size 2. Management should be supportive of a zero tolerance policy. 3. Due diligence (including responsibility for agents and 3rd parties 4. Communication and training 5. The regular monitoring/review of procedures
Businesses cannot ignore the act, as it covers businesses that operate completely or partially in the UK. Here is some terminology that is often used and is essential for understanding the legislation:
Bribery - Giving/receiving something of value to influence transactions or behaviour
Illegal gratuity - Giving/receiving something of value after transactions are complete, acknowledging the presence of influence
Extortion - The demanding of something valuable and giving threats in the case of demands not being met
Conflict of interest - An employee having an economical or personal interest in a particular transaction
Kickback - Demanding partial value of contract as a bribe by an official in return for securing said contract
Corporate espionage - Stealing trade secrets, intellectual property of committing copyright piracy
Commission/Fee - This is used by an individual or a UK company to obtain agent services to secure a commercial contract
Basically, bribery and corruption is a very complex part of corporate law, one where the involvement of corporate crime lawyers is suggested in most cases.
With the introduction of a new bribery act, there is more of a need than ever for companies to understand the legislation.
Here are the main factors of the act:
1. The promise, giving and offering of bribes 2. Agreement to accept a bribe 3. Bribing of a foreign official 4. Not preventing bribery
Penalties doled out for these crimes can be huge in magnitude. For this reason, it is vital to consult corporate crime defence lawyers.
So what does bribery and/or corruption entail?
By its very nature it can be difficult to define as it usually involves two or more people entering into a secret agreement. In general, it is widely considered to be the offer of money or gifts to alter someone's behaviour. There are numerous types of bribery, with different levels of severity dependent on the corruption involved.
Companies will be able to defend themselves in such cases if they have the correct procedures in place and follow some principles:
1. The procedures/action should be proportionate to the risks the business takes as well as its size 2. Management should be supportive of a zero tolerance policy. 3. Due diligence (including responsibility for agents and 3rd parties 4. Communication and training 5. The regular monitoring/review of procedures
Businesses cannot ignore the act, as it covers businesses that operate completely or partially in the UK. Here is some terminology that is often used and is essential for understanding the legislation:
Bribery - Giving/receiving something of value to influence transactions or behaviour
Illegal gratuity - Giving/receiving something of value after transactions are complete, acknowledging the presence of influence
Extortion - The demanding of something valuable and giving threats in the case of demands not being met
Conflict of interest - An employee having an economical or personal interest in a particular transaction
Kickback - Demanding partial value of contract as a bribe by an official in return for securing said contract
Corporate espionage - Stealing trade secrets, intellectual property of committing copyright piracy
Commission/Fee - This is used by an individual or a UK company to obtain agent services to secure a commercial contract
Basically, bribery and corruption is a very complex part of corporate law, one where the involvement of corporate crime lawyers is suggested in most cases.
About the Author:
Looking for corporate crime defence lawyers for bribery and corruption? Go to Lewis Nedas for sound advice, particularly if you are seeking corporate crime defence lawyers London
