One of the most basic legal principles is that crime should not pay – Yet this OECD chapter will show that, in many jurisdictions with weak sanctions, foreign bribery may be an attractive investment. In others, foreign bribery is subject to strong penalties, although some of these penalties exist only on paper because they are […]

The corruption scandal engulfing Brazilian oil giant Petrobras has further embroiled both Keppel Corp and Sembcorp Marine, with allegations that US$9.5 million (S$13 million) in bribes were paid by agents of the two Singapore companies. The money was allegedly paid to officials of Petrobras, its unit Sete Brasil and Brazil’s Workers’ Party to procure 12 […]

On 5 April 2016, The Scottish Crown Office and Procurator Fiscal Service (“COPFS”) announced the latest resolution of a Bribery Act enforcement action against the Glasgow-based logistics company, Braid Logistics (UK) Limited. Braid agreed to pay £2.2 million pursuant to a Civil Recovery Order and accepted responsibility for contravention of sections 1 and 7 of […]

On 8 January 2016, Recorder Andrew Mitchell QC at the Southwark Crown Court sentenced Smith & Ouzman Ltd (an Eastbourne-based printing company) to pay £2.2m in respect of bribery offences (under the pre-Bribery Act legislation), after the company and certain senior executives had been found guilty in December 2014. This case is significant because it […]

LONDON, Nov 30 ICBC Standard Bank Plc agreed to pay nearly $37 million and enter into a British financial regulator’s first deferred prosecution agreement to end probes into bribery of officials in Tanzania. The accord marks the first time that Britain’s Serious Fraud Office has used a DPA, which typically lets a company avoid prosecution […]

UK authorities have disposed of the first corporate offence of ‘failing to prevent bribery’ four years after the offence became available, with Brand-Rex Limited self-reporting contravention of the Bribery Act 2010 and agreeing to pay £212,800 in civil recovery. What you need to know: The necessity of ‘adequate’ procedures. Brand-Rex reportedly had anti-bribery and corruption […]

UK authorities have disposed of the first corporate offence of “failing to prevent bribery”, four years after the offence became available after Brand-Rex Limited self-reported its acceptance of responsibility for contravention of section 7 of the Bribery Act 2010 (“the Act”). The company paid £212,800 by way of a civil recovery order, thereby avoiding criminal […]

UK authorities have disposed of the first corporate offence of “failing to prevent bribery”, four years after the offence became available. Brand-Rex Limited self-reported its acceptance of responsibility for contravention of section 7 of the Bribery Act 2010 (“the Act”). The company paid £212,800 by way of a civil recovery order, thereby avoiding criminal sanctions. […]