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Corporate community 'could embrace anti-corruption policies'

Research has indicated that many companies have not implemented anti-corruption measures sufficiently.
According to Grant Thornton, more than three-quarters of businesses have invested nothing in this area, as reported by The Law Gazette.
This is despite the upcoming Bribery Act due to come into effect, which will penalise such unauthorised activity in domestic and foreign markets.
In fact, failing to prevent such unlawful behaviour will be treated as a corporate offence.
Sterl Greenhalgh, Grant Thornton forensic partner, stated that the findings are "not exactly good news for the Serious Fraud Office, [which has] undertaken an extensive outreach programme promoting the importance of the new act and the penalties that will come into force".
In addition, the research showed that about 90 per cent of senior executives polled believe the government should do more to prevent corruption.
Elsewhere, the Office of Fair Trading recently published an assessment of its consumer codes in respect of its Consumer Codes Approval Scheme.
Posted by Isobel Whitely
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