Bribery/Fraud Flashcards
What is a Bribe?
Dishonest persuasion to act in ones favour in exchange for a gift
Which Act covers Bribery? And what are its aims?
Bribery Act 2010
Applies in UK and abroard aimed at curtailing bribery
Name an area not prohibited by the act
Hospitality
What RICS document relates to bribery?
RICS PS Countering Bribery and Corruption, Money Laundering and Terrorist Financing 1st edition 2019
GHCC
What are RICS members expected to declare under Bribery
- Gifts
- Hospitality, entertainment and expenses
- Customer travel and hospitality
- Charitable donations and sponsorships
Under Bribery & Corruption what must a RICS regulated firm do?
1) Must not GIVE, ACCEPT, OFFER or PROMISE a bribe.
2) Must have plans in place to comply with applicable statute
3) Immediately report activity of bribery and Corruption.
4) Act with due diligence to perform written evaluation of the risks that the firm face that could lead to facilitation of bribery or corruption.
5) Retain information detailing how the firm has met the requirements of the professional statement.
6) Ensure there is a Whistleblowing policy
PTR DCM
What are the key principles under the Bribery Act for dealing with Bribery?
1) Proportionality
2) Top Level Commitment
3) Risk analysis
4) Dual diligence
5) Communication
6) Monitor and review relationships
BBRF
What constitutes an offence under the Bribery Act 2010?
1) Bribery
2) Bribing public foreign official
3) Reciving a bribe
4) Failing to prevent bribery
What are the penalties for bribery?
Policed by SFO
Max 10 yr prison/unlimited fine
Disciplinary action
Legal action
What would you do if you were offered a gift?
Depends on its proportionality.
However in line with current employers policy, politely decline and note in register if above £20
What is whistleblowing?
When a worker raises an issue surrounding a matter in the work place.
How do you ensure that you comply with bribery legislation?
Regularly updating anti-bribery and corruption policies, setting the right tone, ensuring gifts meet a proportional criteria, regularly training and looking out for red flags.
What’s the difference between a gift and a bribe ?
A gift is a small gesture, a bribe is under the impression that some gain will result.
What are the main principles of the bribery act?
Offences =
Bribery
Bribing public foreign official
Receiving a drive
Faling to prevent bribery
Applies to all uk entities
Six principles
PTR DCM
Proportionality
Top level commitment
Risk analysis
Dual diligence
Communication
Monitoring and review
Under the bribery act, when would a facilitation payment be permitted
When you are under duress and there is a threat or harm to life
