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ARTICLE · 27 SEPTEMBER 2024

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K&L Gates
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Earlier this year, Australia enacted the Crimes Legislation Amendment (Combatting Foreign Bribery) Act 2024 (the Act) in an attempt to strengthen the country's anti-bribery and corruption regime.

AustraliaCriminal Law
Jim Bulling
Jim Bulling
Jordan Hawthorne
Jordan Hawthorne
Dylan G. Moses
Dylan G. Moses

Australia Asset Management and Investment Funds Alert

Earlier this year, Australia enacted the Crimes Legislation Amendment (Combatting Foreign Bribery) Act 2024 (the Act) in an attempt to strengthen the country's anti-bribery and corruption regime. The Act, which overhauls previous longstanding bribery legislation, received Royal Assent on 29 February 2024 and will come into effect on 8 September 2024.

The Act makes numerous reforms to the previous regime, but most notably, it introduces a new corporate offence, namely the offence of failing to prevent foreign bribery – ie bribery of foreign officials – for the profit or gain of the corporation. This new offence places liability on businesses where they fail to prevent an "associate" from engaging in such corruption.

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