Bribery & Corruption
The Serious Fraud Office is the lead agency in England, Wales and Northern Ireland for investigating and prosecuting cases of domestic and overseas corruption. We are responsible for enforcing the current law and will be responsible for enforcing the provisions of the Bribery Act (2010) in respect of overseas corruption. (Ministry of Justice, Bribery Act).
Here are some definitions on some corruption-related terms that you may have heard of:
- Bribery - Giving or receiving something of value to influence a transaction
- Illegal Gratuity - Giving or receiving something of value after a transaction is completed, in acknowledgment of some influence over the transaction
- Extortion - Demanding a sum of money (or goods) with a threat of harm (physical or business) if demands are not met
- Conflict of Interest - Employee has an economic or personal interest in a transaction
- Kickback - Portion of the value of the contract demanded as a bribe by an official for securing the contract
- Corporate Espionage - Theft of trade secrets, theft of intellectual property, or copyright piracy
- Commission/Fee - Used by a UK company or individual to obtain the services of an agent/agency for assistance in securing a commercial contract
via sfo.gov.uk
