SFO to take ‘appropriate action’ in prosecuting foreign multinationals suspected of bribery

The SFO has made it clear that they are willing to use their increased international reach under the Bribery Act 2010 to pursue foreign companies alleged to have paid bribes.

Richard Alderman, Director of the Serious Fraud Office told The Times:

“I'm determined that British companies that pursue good corporate governance and ethical business practice shouldn't be placed at a competitive disadvantage by foreign companies, wherever they are based, using bribery and corruption to win contracts"

Under the new legislation which comes into force in April 2011, the SFO will have the power to prosecute non-British companies for making dishonest payments in any jurisdiction as long as the company has some kind of presence in the UK. Previously these powers were limited to pursuing British companies and citizens.

The new Bribery Act is widely thought of as introducing the most rigorous bribery laws in the world and many are drawing comparisons with the US, who in recent years have taken an aggressive stance to tackling bribery offences by foreign multinationals.

In order to be prepared for the new legislation, organisations should identify and enhance key areas of their anti-bribery procedures to ensure they are as robust as possible. This is where we come in.

Mishcon ASSURE™ has been designed to help you to meet the standards set out in the Act. Working closely with accountants, communications experts and a behavioural psychologist Mishcon ASSURE™ provides a holistic approach to ensure adequate policies are in place and, furthermore, to embed these policies into the culture of your organisation.

Where necessary, Mishcon Assure™ will also react to provide crisis management. Our Fraud Defence specialists are on hand to advise on and address any potential issues arising for the company, its directors or personnel and our Reputation Protection team will act swiftly to mitigate any damage to your reputation.

For more information on Mishcon Assure™, please click here.

Alternatively, please contact Kathryn Garbett.