A PEP (Politically Exposed Person) is someone who has been appointed by a community institution to a high-profile position. Under anti-money laundering regulations, many companies aim to apply additional scrutiny to PEPS to mitigate the risk of their proceeds being used in any bribery and corruption.
The Bribery Act 2010
Effective Solutions for Bribery Act Compliance
The Bribery Act is a concern for businesses, and the larger and more sophisticated a business becomes, the risk of breaching the requirements of the Bribery Act increases, be it accidentally or deliberate. Under the Bribery Act, it is an offence for commercial organisations to prevent an individual from committing bribery on their behalf. However, it is a defence if the organisation is able to demonstrate it has adequate procedures in place to prevent bribery.
A commercial organisation is liable under section 7 of the Bribery Act if a person associated with it bribes another person intending to obtain or retain business or a business advantage for the organisation.
The development of policies to prevent bribery is essential for all businesses, their owners and staff.
We can deliver our solutions in the following packages. Click the buttons below to view our brochures and find out more.
Bribery Act Compliance Service
At AML & Compliance we work with all types of businesses to create bespoke and proportionate procedures that deliver active management of bribery prevention.
Our service includes:
- Policy drafting and maintenance
- Process management for approval of gifts and entertainment
- Independent and impartial advice and guidance on events, donation, gifts and rewards
- Gift and Entertainment register management
- Generation of documentation to accept or provide gifts and entertainment to ensure there is no overlay of bribery
- Annual Directors’ report of compliance
Due to the nature by which business is conducted it is possible for a business to unwittingly fall foul of the Bribery Act. At AML & Compliance we will provide support and guidance to prevent this from occurring.