Ethical business practices are not only necessary for preserving reputability and improving business overall, but also for adhering to the law. Conducting bribery or corrupt activities won’t just get you a slap on the wrist; you could be heavily fined or potentially jailed under the Bribery Act 2010.
Bribery includes the act of offering, giving, promising, asking, agreeing, receiving, or soliciting something of value for the purpose of influencing an action. But being involved in bribery is not just limited to the act of offering a bribe: if you are on the receiving end and accept it, you are also breaking the law.
Bribery is a crime and breaching anti-bribery legislation is not taken lightly. Your company must do all they can to ensure risks of bribery and corruption are kept to an absolute minimum.
Methods for doing so include:
An anti-bribery policy demonstrates a company’s commitment to preventing bribery and corrupt activities, and all staff should be instructed to familiarise themselves with the information it contains.
Having this policy in place ensures that everyone knows what to do in regards to preventing bribery, which minimises the risks of bribery and corruption occurring in your business and therefore protects your company from facing any issues with the law.
