The Serious Fraud Office (SFO) on Tuesday announced deferred prosecution agreements (DPAs) with two U.K.-based companies for bribery offenses.

Each case saw bribes paid in relation to multi-million-pound U.K. contracts. The SFO cannot identify the companies for legal reasons.

The companies will pay a total of approximately £2.5 million (U.S. $3.4 million) through disgorgement of profits and financial penalties within 14 days. Both cooperated fully with the SFO and will continue to do so in related proceedings.

The charges relate to violations of Section 1 and Section 7 of the U.K. Bribery Act, which cover bribing another person and a failure by the organization to prevent bribery from taking place.

The DPAs cover a two-year term and contain requirements to support a comprehensive compliance program and report to the SFO at regular intervals.

“Their bribery undermined the fundamental principles of fairness and the rule of law that we expect in this country,” SFO Director Lisa Osofsky said of the companies in a statement.

“The SFO exists to uphold these principles and DPAs enable us to do this, punishing companies for their crimes but also putting in place measures which ensure they will not flout the rule of law again,” she added.

These are the 11th and 12th DPAs secured by the SFO since 2014.

Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal issues.View full Profile

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