Self-reporting any suspected bribery of foreign officials to the appropriate law enforcement agencies can help to reduce legal exposures and protect your business’ reputation. There can also be reporting requirements to regulators, the ASX and other stakeholders where foreign bribery issues arise. Find out the different reporting obligations facing businesses and reasons why it might make sense to report. Learn about deferred prosecution agreements and how these might be one pathway to the timely resolution of bribery and corruption matters.
This information pack provides key information on the Commonwealth offence for bribing a foreign public official, examples of foreign bribery, steps for reporting suspected foreign bribery and a list of useful links for further information. The pack contains six fact sheets as well as a poster and brochure that are available to download.
CDPP and AFP Best Practice Guideline on self-reporting foreign bribery and related offending by corporations
Self-reporting is a significant first step in addressing suspected foreign bribery. This Guideline is designed to provide companies with information about how self-reporting will be taken into account by the CDPP when determining whether or not to commence a prosecution, and highlights the reasons why a company may choose to self-report including to comply with directors’ duties and limit liability. Information about early guilty pleas is also provided.
Authorities in the United Kingdom (UK) can investigate and prosecute foreign bribery that took place outside of the UK. This includes where UK citizens are involved, if some of the conduct occurred in the UK or for companies that 'carry on business or part of a business' in the UK. This portal puts you in touch with the correct authorities in the UK if you wish to report foreign bribery.
United States (US) authorities investigate and prosecute foreign bribery that takes place outside of the US, including where US citizens are involved, where payments are in US dollars and where companies are 'issuers' in US capital markets. This policy sets out the US Department of Justice's policy for giving significant discounts in penalty and circumstances in which authorities may not prosecute.
Suspected bribery of foreign public officials can be reported to the Australian Federal Police (AFP). This fact sheet tells you how. Companies that discover foreign bribery and do not report to the AFP may face increased liability for maintaining a corporate culture that tolerates bribery. Companies that report their own conduct can receive discounted penalties (and may not be prosecuted at all).
Bribery and corruption allegations can have serious consequences for companies, including fines, loss of business and reputation, loss of licenses and inability to recover payments. For listed companies, those potential consequences may be material enough to need to be reported to the ASX. This class action case study examines allegations that can be made when a company does not report suspected corruption.