Posts Tagged ‘United Kingdom’
There are many laws out there that company’s could be breaking without even realizing it. It’s important to make sure they you keep updated.
The UK Bribery Act will fundamentally change anti-corruption enforcement for companies doing business in the UK. With support across political parties, the bill is likely to become law in 2010. Significant new enforcement activity will include large penalties and possible prison terms for organizations and individuals.
From UK Bribery Act website
A survey in 2006 by Control Risks, a consultancy, estimates that a quarter of UK-based international companies have lost business to corrupt competitors in recent years, while figures from the World Bank suggest that bribery adds up to 10% to the total cost of doing business globally.
Its not only the law you could be breaking if competitors catch wind of any companies taking part in such activities then your reputation could be permanently damaged if they start posting on SNS’s etc. Keeping up to date with changes in the law will keep you out of the courts and the papers!