Bribery, Money Laundering and Corruption

Question 1

What is the bribery act 2010?

Answer 1

• It contains 4 main offences:
  o Bribing another person
  o Being bribed
  o Bribing a foreign official
  o Failure by an organisation to prevent bribery

Question 2

What is a bribe?

Answer 2

• Is a payment or reward offered for any commercial or personal advantage.
• Example: Rugby tickets offered before tendering for a big job.

Question 3

What are the 6 Principles of the Bribery act?

Answer 3

1. Proportionality – is it proportionate to the risk and size of organisation?
2. Top level commitment – Those in top level positions are best placed to ensure an organisation conducts business without bribery
3. Risk Assessments – A risk assessment shows the nature or extent of the exposure to bribery
4. Due diligence – Procedures must be applied, taking a proportionate and risk based approach
5. Communication – Employers to communicate their policies and provide training etc.
6. Monitor and review – organisations should monitor and review procedures and policies

Question 4

Who does the Bribery Act apply to?

Answer 4

• Any British citizen, anywhere in the world
• A British associate with a connection, through business, to the UK who conducts an offence
• An organisation incorporated in the UK who has committed bribery anywhere in the world
• An organisation or partnership; that has carried out business in the UK

Question 5

How do you comply with the bribery act?

Answer 5

• My company has bribery and corruption policies, I strictly adhere to these;
• I report any act of bribery to the Serious Fraud Office or National Crime Agency

Question 6

What are the potential consequences for not adhering to the bribery act?

Answer 6

• 10 years imprisonment
• Unlimited fine for both individuals and businesses

Question 7

What is money laundering?

Answer 7

• Turning dirty money, clean.
• For example, money which has been gained from drugs – but has gone through a business to appear like it has come from legitimate sources.
• Hot topic on this is: Housing market and solicitors

Question 8

How do you report suspicious behaviour?

Answer 8

Submit an SRA (Suspicious Activity Report) to the National Crime Agency

Question 9

What is corruption?

Answer 9

The abuse of power for private gain

Question 10

What is a price fixing cartel?

Answer 10

A collection of businesses that act together and fix prices for goods and services they produce

Question 11

What is terrorist financing?

Answer 11

A collection of funds to support terrorist acts

Question 12

What is a facilitation payment?

Answer 12

A payment made to a government official that acts as an incentive to complete an action or process that benefits the party making the payment.

Question 13

What is Modern Slavery?

Answer 13

• It is the illegal exploitation of people for personal or commercial gain
• Covers sexual exploitation, criminal exploitation, organ harvesting, forced labour

Question 14

What is the legislation?

Answer 14

Modern Slavery Act 2015

Question 15

What are some examples of Modern Slavery?

Answer 15

• Forced labour
• Forced marriage
• Child slavery

Question 16

How would you report Modern Slavery?

Answer 16

Call the modern slavery helpline or the police