The UK Bribery Act 2010: contents and implications

Peter Yeoh

Journal of Financial Crime, 2012, vol. 19, issue 1, 37-53

Abstract: Purpose - The purpose of this paper is to assess the implications of The UK Bribery Act 2010 for businesses and in particular those with cross‐border activities. Design/methodology/approach - This study relies on documentary research and using both primary and secondary data drawn from the public domain. Findings - The study suggests why UK businesses and in particular those conducting cross‐country transactions should take the implications of this law seriously as the enforcement agency in the UK transforms to a more active mode. It also suggests why, despite some severe criticisms, the UK does not lag behind in the global fight against corruption. Research limitations/implications - This is an exploratory review paper to promote empirical research in a business sensitive theme. Practical implications - Insights from the study should prompt business leaders to give sufficient attention to those areas with high risks of falling within the ambit of the Act. Social implications - The study's findings reinforce the ethical dimensions of cross‐border business practices. Originality/value - This study uses the implications of the new UK Act to draw attention to the business community that with the passing of the Act business cannot be as usual; that compliance to the Foreign Corrupt Practice Act would be insufficient; and that despite controversies over implementation delays, the UK does not lag behind in the fight against corruption worldwide.

Keywords: United Kingdom; Legislation; Bribery; Corruption; Financial crime; White‐collar crime (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:13590791211190713

DOI: 10.1108/13590791211190713

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