UK Bribery Act 2010
Definition
A UK statute that criminalises both public and private sector bribery, covers any person (not only government officials), and creates a strict-liability corporate offence of failing to prevent bribery. The sole defence is demonstrating that adequate prevention procedures were in place.
Related terms
- Adequate Procedures
- The defence to the Section 7 corporate offence under the UK Bribery Act. A commercial organisation must show it had in place...
- Conflict of Interest
- A situation in which a person's private interests, financial, personal, or professional, could improperly affect their exercise of a duty to an...
- Deferred Prosecution Agreement (DPA)
- An agreement between a prosecutor and a company in which criminal charges are filed but prosecution is deferred in exchange for cooperation,...
- Facilitation Payment
- A small payment to a government official to expedite a routine official action. The FCPA exempts such payments; the UK Bribery Act...
- FCPA (Foreign Corrupt Practices Act)
- A 1977 US federal statute with two pillars: anti-bribery provisions that prohibit payments to foreign government officials to obtain or retain business,...
- Foreign Corrupt Practices Act (FCPA)
- A US federal statute that prohibits US-listed companies, their officers, and agents from bribing foreign government officials. Applies extraterritorially, meaning the conduct...
- OECD Anti-Bribery Convention
- The 1997 OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, requiring its 44 signatories to criminalise active...
- Politically Exposed Person (PEP)
- An individual who holds or has held a prominent public function, including senior government officials, judges, military officers, and their close family...
- Sole-Source Justification
- A documented explanation for awarding a contract without competitive bidding, typically claiming that only one supplier can meet a requirement. In bribery...
- Third-Party Due Diligence
- The process of verifying the identity, ownership, reputation, and business legitimacy of agents, distributors, joint-venture partners, and other intermediaries. Required under the...
Explained in these topics
- Auditing Bribery and Conflicts of InterestA UK statute that criminalises both public and private sector bribery, covers any person (not only government officials), and creates a strict-liability corpor...
- Bribery and Corruption: FCPA and UK Bribery ActA UK statute creating four offences: paying a bribe, receiving a bribe, bribing a foreign public official, and the corporate offence of failure to prevent brib...