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ARTICLE · 13 OCTOBER 2022

How To Minimize Risk Under The Bribery Act 2010

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The UK Bribery Act 2010 came into force more than a decade ago, with the aim of strengthening regulation in the fight against corporate crime. The act, which applies to any UK citizen,...

United KingdomFinance and Banking
Neil Robson
Neil Robson
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The UK Bribery Act 2010 came into force more than a decade ago, with the aim of strengthening regulation in the fight against corporate crime. The act, which applies to any UK citizen, people with a close connection to the UK, and any relevant commercial organisation, makes it an offence to bribe or be bribed at home or abroad. Financial services organisations can continue to minimise their risk of falling foul of the act in a fast-moving political and regulatory world.

Breaking down the detail

Since April 2011, the Bribery Act 2010 has applied to UK citizens, persons with "a close connection with the UK" (which includes any residents of the UK and UK-incorporated entities), as well as "relevant commercial organisations" - which means any partnership or body corporate (wherever incorporated) which carries on a business, or part of a business, in any part of the UK (England and Wales, Scotland or Northern Ireland).

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