Mr Ecclestone’s offer was based on an existing provision in German law. Earlier on Tuesday German prosecutors accepted the offer from the 83-year-old billionaire who dominates motor racing. He went on trial in April, accused of paying a German banker 33m euros (£26m; $44m) to ensure that a company he favoured could buy a stake […]

Just prior to the three year anniversary of the UK Bribery Act (“Bribery Act”), the UK division of Transparency International (“TI”), a leading non-governmental anti-corruption organisation, released new guidance for companies setting out “principles and good practice” for dealing with requests for small bribes, including facilitation payments (also known as “speed” or “grease” payments). Dealing […]

Transparency International has published new guidance for companies on countering small bribes. The guidance looks at: information on creating a supportive corporate culture; the risks of small bribes; implementing a programme to counter small bribes including: training employees, internal accounting controls, preparing for managing incidents and monitoring and evaluating; principles for countering small bribes; case […]

The Seychelles Financial Intelligence Unit (FIU) has confirmed that it is actively conducting an investigation into the alleged use of offshore corporate structures in Seychelles to launder the proceeds of corruption by members of the former Ukrainian government. These allegations which are internationally tarnishing Seychelles’ reputation have appeared in well-known international media sources such as […]

An investigation is being conducted into the alleged use of offshore companies registered in Seychelles as part of a broader criminal enterprise used to pay over US $18,000,000 in bribes to public officials in India. The information was released through a communiqué by the Seychelles Financial Intelligence Unit (FIU) in which it added it is […]

The City of London Police Overseas Anti-Corruption Unit (OACU) has launched a video highlighting the damaging consequences for UK companies and individuals of engaging in corrupt business activities. The short six-minute video entitled “Consequences begin at home” has been created as a tool that can be used by corporates to educate their employees as part […]

The UK branch of Transparency International has published a new handbook for creating or enhancing an anti-bribery compliance program. The handbook is intended to assist businesses subject to the UK Bribery Act and U.S. Foreign Corrupt Practices Act, and to help them anticipate, avoid and resist bribery. The guide identifies bribery warning signs and prevention strategies. […]

Introduction The law in Jersey relating to the consequences of receiving a bribe has been recently clarified in the case of Lloyds Trust Company (Channel Islands) Limited v Fragoso and Others [2013] JRC 211 concerning a Jersey trust known as the Rex Trust The Rex Trust itself had been established in 1999 by a Mozambican […]