3 July 2012
The real estate sector is perceived as having one of the highest levels of corruption risk according to a Transparency International UK survey carried out on behalf of the City of London last year. Planning applications, auctions, the interconnected web of contracts and sub-contracts on construction projects, public sector
involvement and high deal values all contribute to the industry's vulnerability to bribery.
With this in mind, it is crucial for sector players to understand how the UK Bribery Act 2010 (the Act) will apply on a real estate transaction and what can be done to ensure that its provisions don't inadvertently catch out those going about their ordinary course of business.