British law on corporate bribery

Abstract

Purpose

This paper aims to assess the effectiveness of the Bribery Act 2010 in curbing corporate bribery.

Design/methodology/approach

The paper takes a doctrinal focus in assessing UK bribery law using both primary and secondary sources.

Findings

This paper finds that the effectiveness of the Bribery Act 2010 in curbing bribery lies in its approach of changing the basis for corporate criminal liability from focusing on the guilt of personnel within the company to focusing on the quality of the system governing the activities of the company. Companies have to address the risks of bribery or risk facing liability for failure to prevent bribery. With its regulatory approach to corporate liability, coupled with its extraterritorial reach, the Bribery Act is likely to change business cultures that facilitate bribery, thereby proving an effective law to corporate bribes.

Originality/value

This paper highlights the deficiency of earlier laws in tackling corporate bribery, examines the crime of bribery from a company law perspective and argues that the regulatory strategy in the Bribery Act is likely to be an effective tool against bribery.

Citation

Mukwiri, J. (2015), "British law on corporate bribery", Journal of Financial Crime, Vol. 22 No. 1, pp. 16-27. https://doi.org/10.1108/JFC-12-2013-0072