Legal Considerations 2

Question 1

What is the penalty for bribery

Answer 1

Imprisonment for up to 10 years and/or unlimited fine.

Question 2

What is the definition of fraud

Answer 2

Deception obtain an unjust or illegal advantage.

Question 3

What is data protection?

Answer 3

Ensures all personal information is handled correctly.

Question 4

Name other legal or regulatory requirements?

Answer 4

Insider Trading
Health and Safety
Employment protection

Question 5

The ethical argument for bribery being wrong

Answer 5

Misuse of power

Undermines the integrity of the organisation

Question 6

What is the business argument for bribery being wrong

Answer 6

Legal risk
Reputational risk
Financial costs
Impact on staff
Pressured to repeats exposure to blackmail

Question 7

How would you do Due Diligence on a foreign company?

Answer 7

Internet searches
Consult the foreign office
Consult representative bodies in the relevant country
Anticorruption portal

Question 8

What are the four offences of the bribery act?

Answer 8

Bribing a person
Requesting accepting or receiving a bribe
Using a bribe
Failing to prevent a bribe

Question 9

What is bribery?

Answer 9

Bribery is a threat to objectivity.

Compromises integrity and professional behaviour.