Companies that report bribery within their ranks
are not necessarily immune from criminal charges, according to
new guidance from the UK Serious Fraud Office (SFO). The
announcement heightens the risk attached to self-reporting and
has divided market opinion.
The revised guidance on the 2011 Bribery Act was
released on October 9. It followed SFO director David Green’s review of
the anti-fraud office’s policies.
Former director Richard Alderman encouraged US-style
self-reporting by offering the incentive of a civil, as opposed
to criminal, resolution. This is no longer the case. The SFO
has refused to guarantee that a prosecution won’t
follow such a report.
"There has always been a degree of uncertainty when it came
to self reporting, but the SFO is even more...