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Call for tougher UK laws on fraud and money laundering

The Select Committee on the Bribery Act 2010 has published its post-legislative scrutiny report, concluding that the Act is exemplary and "an international gold standard for anti-bribery and corruption legislation". 

The Committee concluded that Deferred Prosecution Agreements (DPAs) are largely effective, despite having been few in number since the implementation of the Act, and when used, are not an "easy way out" for companies. 

The report did acknowledge that the government ought to provide better advice to SMEs on how best to export their products and services, and clearer examples of what constitutes legitimate corporate hospitality whilst remaining compliant with the Bribery Act; and that the relevant authorities ought to prioritise the speed at which bribery prosecutions progress.

It also recommended that financial crime such as fraud and money laundering should be subject to the tougher laws that apply to bribery.

Tags

litigation, dpa, bribery act, select committee, money laundering, anti-bribery

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