The new Bribery Act strongly addresses the ‘supply side’ of bribery, by placing the onus on business not to pay bribes. However, we think that Government must do more to address the ‘demand side of bribery’ – that of extortion and solicitation.
In a recent letter to the Foreign Secretary, we called on Government to use its diplomatic channels to support UK business operating internationally. This should include providing an effective reporting mechanism for those that have been subject to extortion or solicitation, and engaging where appropriate with local governments on business’ behalf.
As ICC UK, we will continue to use our international network to raise awareness of the negative effects of corruption as well as to promote understanding of the implications of the Act amongst overseas businesses.