Author: Syedur Rahman 27 October 2022
With anti-corruption watchdog Transparency International saying it no longer considers the UK one of the best nations for tackling bribery, Syed Rahman analysed the situation.
In an article, Syed considers the reasons for the watchdog’s stance and the bribery challenges facing the UK.
He explains that there have not been many major bribery cases coming to court. But he emphasises that the UK’s laws regarding corporate criminal liability have made it difficult to prosecute companies for bribery – a point Serious Fraud Office (SFO) Director Lisa Osofsky has been making since she took up her post four years ago. The need to show that the directing mind and will of a corporate was involved in wrongdoing is a huge challenge when it comes to corporate prosecutions. Syed adds that the problem is likely to remain, as the recently-published Law Commission options for reforming corporate criminal liability do not include removing the directing mind and will requirement.
Syed also says that the lack of financial transparency has made it hard to tackle bribery. But he argues that while some say the SFO needs more resources, the agency’s own disclosure shortcomings led to its high-profile failure in the Unaoil bribery investigation.
Syed's article can be read in Thomson Reuters Regulatory Intelligence. (Subscription Required)
Syedur Rahman is known for his in-depth experience of serious fraud, white-collar crime and serious crime cases, as well as his expertise in worldwide asset tracing and recovery, international arbitration, civil recovery, cryptocurrency and high-stakes commercial disputes.