Features

After all the dust has settled, the political recriminations have been leveled, and the issuance of reams of client alerts by every law firm on the planet, companies are now staring at July 1, 2011 as the effective date of the UK Bribery Act.  The build up to the issuance of the Ministry of Justice’s Guidance was historic – leak after leak, political infighting and threats by international anti-corruption organizations and other governments against a weakening of the original version.  After all this, we are left with the following:  the UK Bribery Act still stands, the Guida

For the past several years, development agencies, such as the World Bank, the Asian Development Bank, USAID, the European Union and others have struggled to ensure integrity and prevent corruption from diverting funds from their intended use into the hands and pockets of undeserving individuals and illegal activities.

The National Fraud Authority (NFA) has published its second Annual Fraud Indicator (AFI), which estimates that fraud is costing the UK over £38 billion a year. According to the analysis, the public sector remains responsible for the highest proportion of loss, at £21 billion, while private-sector losses amount to around £12 billion. Banking Times, January 27, 2011