The UK Bribery Act 2010: contents and implications

Abstract

Purpose

The purpose of this paper is to assess the implications of The UK Bribery Act 2010 for businesses and in particular those with cross‐border activities.

Design/methodology/approach

This study relies on documentary research and using both primary and secondary data drawn from the public domain.

Findings

The study suggests why UK businesses and in particular those conducting cross‐country transactions should take the implications of this law seriously as the enforcement agency in the UK transforms to a more active mode. It also suggests why, despite some severe criticisms, the UK does not lag behind in the global fight against corruption.

Research limitations/implications

This is an exploratory review paper to promote empirical research in a business sensitive theme.

Practical implications

Insights from the study should prompt business leaders to give sufficient attention to those areas with high risks of falling within the ambit of the Act.

Social implications

The study's findings reinforce the ethical dimensions of cross‐border business practices.

Originality/value

This study uses the implications of the new UK Act to draw attention to the business community that with the passing of the Act business cannot be as usual; that compliance to the Foreign Corrupt Practice Act would be insufficient; and that despite controversies over implementation delays, the UK does not lag behind in the fight against corruption worldwide.

Citation

Yeoh, P. (2012), "The UK Bribery Act 2010: contents and implications", Journal of Financial Crime, Vol. 19 No. 1, pp. 37-53. https://doi.org/10.1108/13590791211190713