As part of the coalition government’s renewed attempts to clamp down on business corruption, this act came into force in July 2011. Its stringent conditions apply to those individuals and companies trading; both foreign and UK companies, as long as the foreign companies operate in this country.
The act demands that individuals and companies have in place adequate anti-corruption procedures. The act is not particularly well-drafted and therefore there are many grey areas which are open to interpretation.
The SFO are advocating the need for self-reporting and the government is currently considering the use of deferred prosecution agreements in this context.
The penalties for failing to install adequate anti-corruption procedures are high. The FSA have recently and repeatedly levied huge fines against companies who have failed to do this.
Lewis Nedas Law have a team of serious fraud experts headed by Jeffrey Lewis, who can assist with advice regarding these anti-corruption systems and other relevant issues. We have a thirty-year proven track record of success in dealing with tax, VAT investigations and fraud, money laundering, and insider dealing.
We work with highly regarded independent forensic accountants and barristers.
We can advise where you suspect fraud or corruption within your company and how to approach the authorities. We pride ourselves upon our ‘City standards of practice’ without the City rates!
Contact Jeffrey Lewis.
