Tag: White Collar Crime

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White Collar Crime Update: “Making and Accepting a Financial Advantage” under the Bribery Act 2010

The Serious Fraud Office has brought its first charges under the Bribery Act 2010 against a UK company involved in a £23 million bio-fuel investment fraud. This concerns the offences of making and accepting a financial advantage, where individuals give or receive improper financial benefits connected to the performance of their functions. Convictions can result in imprisonment of up to 10 years and substantial fines. The Act also includes corporate liability for failing to prevent bribery, though companies can defend themselves by showing adequate anti-bribery procedures.