Tag Archives: bribery
TI writes to SFO on DPAs
Robert Barrington, Executive Director of Transparency International, has written to David Green at the SFO warning that DPAs, while a useful tool that TI supports must nevertheless be used properly, so as not to become a “soft option” for those guilty of corruption. TI is concerned that discounted DPA settlements will give that impression. The […]
Government publishes anti-corruption strategy
The Department for International Development and the Home Office have published the UK’s anti-corruption strategy for 2017- 2022. It is predicated on six priorities, which include strengthening the integrity of the UK as an international financial centre and reducing corruption in public procurement and grants. Initiatives will include: greater transparency over ownership and control of […]
Wolfsberg Group updates ABC guidance
The Wolfsberg Group has updated its guidance for financial institutions on how to construct an effective ABC compliance programme. Recent papers focus on particular issues such as PEPs. This paper focuses on how institutions manage their ABC risks in respect of behaviour of employees and third parties acting on their behalf. It also looks at […]
SFO speaks on DPAs
Ben Morgan of the SFO has reflected on the use of DPAs in bribery and corruption cases. He stressed that it is not the UK’s stance merely to require corporates to give back illegal gains – there must be an additional element of punishment and deterrence. He spoke first of the Standard Bank DPA, which, […]
SFO announces new bribery investigation
SFO has announced an investigation into ABB Ltd’s UK subsidiaries and their officers and employees, for suspected bribery and corruption. The investigation forms part of the Unaoil investigation which SFO began last summer.
SFO updates on DPAs
David Green has updated on SFO’s work, including speaking about the 2 DPAs now concluded. He said more are in the pipeline. He noted the speed with which the Standard Bank DPA was concluded as opposed to the Sweett Group prosecution. He noted that in the Standard Bank case there was an emphasis on the nature […]