Bribery and Corruption

Reminds Firms Not to Rely Solely on Third Parties to Conduct Sanctions Checks

https://www.mofo.com/resources/insights/220705-ofsi-fines-uk-firm-located-overseas.html#.Ysil8mQ3Lds.twitter

Cartel busters at the Competition and Markets Authority (CMA) have provisionally found that ten construction firms illegally colluded to rig bids for demolition and asbestos removal contracts.

https://www.constructionenquirer.com/2022/06/24/ten-demolition-firms-found-guilty-in-cartel-probe/

When dealing with UK trading partners you may need to prove that your business and supply chain is free from bribery and corruption.

https://www.gov.uk/guidance/bribery-and-corruption-in-trade-reducing-the-risk

The Serious Fraud Office (SFO) has charged Glencore Energy (UK) Ltd with seven counts of bribery in connection with its oil operations.

https://www.sfo.gov.uk/2022/05/24/serious-fraud-office-charges-glencore-with-seven-counts-of-bribery/

A group of individuals and corporate bodies have been sentenced today (14 April 2022) for their involvement in bribing a senior manager at Coca Cola Enterprises UK Limited.

https://www.cps.gov.uk/cps/news/fraudsters-sentenced-million-pound-bribery-and-corruption-coca-cola-enterprises-uk-ltd

A company executive from Shropshire has admitted being part of a multi-million fraud involving contracts with Coca-Cola.

https://www.shropshirestar.com/news/crime/2022/04/13/company-exec-from-shropshire-admits-part-in-coca-cola-contract-fraud/

Council officials were today accused of taking “kickbacks” as part of a scam, with a contractor paid £2 million.

https://uk.finance.yahoo.com/news/2-million-kickbacks-claim-over-115142971.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr

Businesses now have access to a free new financial crime tool that provides further insight into the level of corruption they might expect to encounter when carrying out business activities across national markets around the world.

https://www.pinsentmasons.com/out-law/news/businesses-urged-to-consult-corruption-risk-forecast

The UK’s Competition and Market Authority (CMA) and the European Commission have conducted parallel dawn raids for the first time since the completion of the UK’s withdrawal from the European Union.

https://www.pinsentmasons.com/out-law/news/uk-eu-competition-authorities-launch-parallel-dawn-raids-since-brexit

“Competition law compliance is not always given the attention that it deserves. I would like to see anti-competitive behaviour taken as seriously by UK businesses and boards as the risks around bribery, fraud, health and safety and cybercrime.” Lord David Currie, Chairman, Competition and Markets Authority (Competition Law Risk: Short Guide V 2.0).

https://www.finextra.com/blogposting/22099/full-time--blowing-the-whistle-on-cartel-behaviour