Clifford Chance
Minimising the corruption risk to your business from counterparties
3 September 2012
As Australian and international regulators and prosecutors increase their efforts to combat corruption and bribery, companies need to monitor the actions of third parties as closely as those of their own employees.
Liability is no longer limited to a company's home country; acts committed abroad can attract prosecution at home and under other countries' legislation. Australian regulators will investigate foreign official bribery allegations against Australian companies under the Criminal Code (Cth), while the enforcement of the UK Bribery Act and the US Foreign Corrupt Practices Act (FCPA) reaches far beyond those countries' borders.
Corruption investigations and prosecutions can damage a business' profits and reputation. In this briefing, we explain what Australian companies should be doing to minimise the risk posed by corruption and bribery carried out by counterparties.
