Anti-Bribery & Corruption Advisory Solutions
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What Is Bribery And Corruption?
Bribery is the giving, receiving or soliciting something of value, such as money, to influence decisions/actions, in this context, within UK Financial Services or Professional Services firms. Corruption includes various dishonest practices such as fraud, embezzlement, and the abuse of authority thus compromising the ethical standards of the firm and the wider industry.
We’re known for our exceptional anti-bribery and corruption compliance consulting advisory service to businesses across the UK.
What The Regulators Expect Of UK Businesses
Regulators in the UK expect you to put in place measures to prevent, detect, and combat bribery and corruption. This includes undertaking thorough due diligence of clients, business partners, and employees. To comply with anti-bribery and corruption compliance requirements, you must:
Have appropriate policies and procedures to prevent bribery and corruption
Provide employees appropriate training on a regular basis
Have continuous improvement programmes to identify and address evolving risks and regulations, including conducting risk assessments.
Monitor and enforce internal controls
Ensure legal compliance with anti-bribery and corruption laws
Establish whistleblowing mechanisms
The objective of our anti-bribery and corruption advisory service is to foster a culture of integrity, transparency, and compliance thereby mitigating the risks associated with corrupt practices. Our solutions can provide guidance to all the above-mentioned requirements.
What Happens When Anti-Bribery And Corruption Compliance Goes Wrong?
JLT fined £7.8m for allowing a $3m bribe
The UK regulator fined JLT Speciality Limited (JLTSL) £7.8m for financial crime failings, which, in one instance, allowed bribery of more than $3m to take place. The FCA found a third-party introducer, used by a subsidiary of JLT in Columbia, had paid more than $3m to government officials to retain and secure business in Columbia.
Deutsche Bank agree to pay $125m to avoid prosecution in US for foreign bribery
Deutsche Bank agreed to pay $125m to the US Department of Justice for violations of the US Federal Corrupt Practices Act (FCPA) over its dealings in multiple countries. The bank had engaged in a criminal scheme to conceal payments to so-called consultants world-wide who served as conduits for bribes to foreign officials to win and retain “lucrative business projects.”
How Our Anti Bribery And Corruption Advisory Services Help Clients Avoid Avoidable Fines And Reputational Damage
When transparency and integrity are key, being seen to mark your own homework, often with unintentional internal biases, will not pass muster with regulators and investors in the City of London and the rest of the UK.
Having an experienced, objective third party to carry out regular checks on the integrity of your internal systems and processes is critical. It demonstrates your commitment to proactively ensuring your business is accountable, transparent and fit for purpose.
Click here to learn how our team of anti-bribery and corruption advisors in London can support you and keep your business safe.