16 - Bribery Flashcards
What is the Bribery Act 2010
2010 - aims to reduce bribery in businesses
Giving, offering, promising, or receiving of an advantage such as a payment, girft or service for an action which is illegal or a breach of trust,
What are the 6 Key Principles of the Bribery Act (2010)?
1) Proportionality
4) Due Diligence
6) Monitoring and review
What are the Four Offences Under the Bribery Act (2010)?
- Bribing
- Receiving a bribe
- Bribing a foreign public offical
- Failing to prevent bribery
If you were offered football tickets by a client, how would you act.
Bribery Act states proportinate hospitality is okay as long as this is accurately recorded in a gift/hospitality register.
Who enforces the bribery charges?
Serious Fraud Office.
What is the penalty for bribery?
Bribery Act is policied by the serious fraud office.
For individuals: if breached, maximum penalty of 10 years imprisonment and/or unlimited fine
For companies: if breached, unlimited fine
What are some ways to prevent bribery?
- identification of potential risks
- staff training
What are your Company’s Policies on Bribery?
We have a company gift register and guidelines, these include never to give or receive cash equivalents such as vouchers, you may only give and receive gifts up to a value of £50, and if you invite a client or attend a meal the value must be less than £125 per head.
What is the associated RICS Guidance on Bribery?
Countering bribery and
corruption, money laundering
and terrorist financing (Feb 2019)
Guidance setting out supporting good practice for anti-bribery and corruption and for anti-money laundering and terrorist financing.
But remember, the law comes first!
