The Serious Fraud Office is the lead agency in England, Wales
and Northern Ireland for investigating and prosecuting cases of
domestic and overseas corruption. We are responsible for enforcing
the current law and will be responsible for enforcing the
provisions of the Bribery Act (2010) in respect of
overseas corruption. (Ministry of Justice, Bribery Act).
Here are some definitions on some corruption-related terms that
you may have heard of:
- Bribery - Giving or receiving something of
value to influence a transaction
- Illegal Gratuity - Giving or receiving
something of value after a transaction is completed, in
acknowledgment of some influence over the transaction
- Extortion - Demanding a sum of money (or
goods) with a threat of harm (physical or business) if demands are
not met
- Conflict of Interest - Employee has an
economic or personal interest in a transaction
- Kickback - Portion of the value of the
contract demanded as a bribe by an official for securing the
contract
- Corporate Espionage - Theft of trade secrets,
theft of intellectual property, or copyright piracy
- Commission/Fee - Used by a UK company or
individual to obtain the services of an agent/agency for assistance
in securing a commercial contract
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