UK businesses are still taking risks in compliance with the UK Bribery Act in the pressure to win business and the belief that regulators will hold back from prosecutions, according to the latest research from FTI Consulting.
The research found that 40% of business people believe the current economic climate is encouraging organisations to risk breaching the UK Bribery Act in order to win business, while just over a quarter (27%) do not believe the government will encourage regulators to pursue prosecutions in the current economic environment.
A further one in five (21%) believe they will not be prosecuted for a breach of the Bribery Act, and a third (31%) believe the act exists mainly for appearance’s sake and ethical guidelines.
Worryingly, the FTI Consulting research reveals that risk taking seems to come from the top down. A quarter (25%) of board-level respondents confess they might breach the Bribery Act in order to win business compared with 16% of middle management.
While many businesses admit to cutting corners in creating the right processes and protocols to comply with the Bribery Act, there does seem to be overwhelming support for the long-term eradication of corporate corruption. Two thirds (63%) of respondents to the survey say that the UK Bribery Act eventually will have a positive effect on prospects for UK business.
http://www.fticonsulting.co.uk/global2/press-releases/united-states/economic-climate-pushing-companies-to-take-risks-with-anti-corruption-policies.aspx
