Bribery Flashcards
What is the Bribery act?
- Bribery Act 2010 is an act of parliament by the UK parliament that covers criminal law relating bribery.
- Specific training module on bribery, code of conduct which staff have to read and answer questions one.
What do you if suspect money laundering?
- Raise it with company director.
- Fill out suspicious activity report and send into National Crime Agency
A client wants you to be responsible for making payments and give you 500k in cash, what do you do?
- Concerned this could be money laundering so raise suspicions with National Crime Agency.
What is terrorist financing?
- Solicitation, collection or provision of funds used to support terrorist acts or organisations.
Can you give some examples of modern day slavery?
- People being forced to work against their will on a construction site for example
How do you report modern slavery?
- Section 52 on the 2015 modern slavery act states you have a duty to report it.
Then get in touch with the NCA
How would you make sure your staff know their obligations around bribery?
- Request that they sign an agreement that confirms they will conform with the information set on in the Bribery Act 2010.
Can you give me an example of a bribe under the act?
- Accepting cash or high value gifts
What must RICS regulated firms do in regard to bribery?
- Written policy on anti bribery and corruption
- Gift and Hospitality Register
- Provide clear guidance for staff in preventing bribery / CPD
- Appropriate Due Diligence
How does the act define a bribe?
Offering, promising or giving a financial or other advantage to a person to induce or reward a person to perform a relevant function or activity improperly
What are the penalties under the bribery act?
- Unlimited fines
- Up to 10 years imprisonment
What are the principles for preventing bribery in the bribery act 2010?
- D- Due diligence
- T- Top level commitment
- M- Monitor and review
- C- Communication
- P- Proportionate procedures
- R- Risk Assessments
What are the key offences in the bribery act?
- Bribing another person
- being bribed
- Bribing a public foreign official
- Failure of a commercial organisation to prevent bribery
What guidance does the RICS publish on Bribery?
- RICS Professional standard
- Countering bribery, corruption and money laundering and terrorist finance 2019
What must firms do in relation to bribery?
Written policy
Provide training
Adhere to RICS rules
Meet Anti bribery, money laundering, and countering terrorist financing Professional Statement