Details

  • Service: Advisory
  • Type: Business and industry issue
  • Date: 7/15/2013

UK businesses in East Africa: evaluate your anti-bribery policies 

Failure to fully implement high-quality anti-bribery processes and procedures could result in a severe financial penalty

The UK Bribery Act 2010 (the Act) came into force on 1 July 2011. There were conferences, seminars, opinion pieces, all manner of activity, most of which seemed to focus on the likely catastrophic effect on UK business at home and abroad. A survey of 1000 middle managers on the first anniversary of the Act coming into force produced the startling statistic that 78% of those questioned had never heard of the Act. Of those who had, 50% said they regarded their training as inadequate.

 

We are yet to see the prosecution of a corporate entity under the Act. In late 2011 the UK Serious Fraud Office (SFO) set up a confidential hotline to receive information about bribery. In the first quarter of 2012 it received 350 calls and 300 emails. Apart from the fact that there are investigations under way, there have been other indicators to the future, which UK businesses in East Africa would do well to recognise...Read more