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 including 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 - where an employee has
an economic or personal interest in a transaction
- kickback - a 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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