Bribes paid by individuals and businesses to win public contracts help sustain corrupt systems and regimes. Tackling bribery helps build trust in public institutions, ensures strong democratic governments and sustainable development. To end corruption it is essential to look at all bribery conducted and enabled by UK individuals and companies, including banks, lawyers and accountants, both at home and abroad.
We research how the Bribery Act is being implemented and how effective it is at deterring bribery. We also monitor how the UK’s changing relationship with its global partners, including the EU, influences the incidence of foreign bribery by British people and companies.
Today the Serious Fraud Office (SFO) and Ultra Electronics Holdings Limited (Ultra Electronics) entered into a Deferred Prosecution Agreement (DPA), with the defence and security company paying almost £15 million to resolve a long-running bribery probe. This penalty includes a £10 million penalty plus £4.8 million to cover the SFO’s costs.
The government’s plan to raise the bar for including consultation requirements in legislation is a risky move that could threaten public trust in politics.
We made the following statement to the OECD's Working Group on Bribery external stakeholders event, urging action by the Group on the following items...
