Company fined £77m for failing to prevent bribery

A recent case highlights the significant financial costs - £77m in this instance - for a company which fails to take adequate procedures to prevent bribery.

The Bribery Act 2010 introduced various different offences, including both giving and receiving a bribe, as well as a specific offence of bribing a public official.

In addition, an organisation will also be guilty of an offence where an 'associated person' bribes another person with a view to obtaining or retaining business for that organisation.