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U.K.'s Bribery Act Fails to Deliver Significant Cases

Neil Baker | February 20, 2013

When Britain's Bribery Act went into effect in July 2011, it struck fear into the hearts of businesses and executives with operations in the United Kingdom. Yet more than a year and a half later, it's yet to deliver a significant scalp.

To date, no companies have been prosecuted, let alone convicted, under the Act. The only successful cases involve two unconnected individuals, convicted of behavior that is a long way from the kind of corruption the Act was supposed to tackle.

One case involved a man who offered a small bribe to a government official after he failed a taxi driving test. He received a two-month prison sentence. The other related to a court clerk jailed for four years after he took bribes to alter a database of driving offenses.

While no significant cases have been prosecuted, more companies are self-reporting corruption offenses. According to the Serious Fraud Office the number of companies reporting their own misdeeds nearly doubled from 7 to 12... To get the full story, subscribe now.