In 2019 the Serious Fraud Office in the United Kingdom (UK) entered into a deferred prosecution agreement with a small UK resources sector company concerning bribery in South Korea. The company was required to disgorge its profits from the bribery but did not receive a penalty because of its small size and the fact that it had thoroughly investigated and self-reported the issues.

In 2015 Standard Bank PLC entered into a deferred prosecution agreement with the Serious Fraud Office in the United Kingdom to pay penalties of over US$25 million and US$7 million of compensation in connection with its role in an equity raising in Tanzania. The case highlights the risks of using agents to help win government contracts.

In 2011, two subsidiaries of the Reserve Bank of Australia plead guilty to charges of bribing foreign officials in relation to a Malaysian bank during the period of 1999-2004 and were fined over A$22 million. Four employees, including the CEO and CFO of Securency, pleaded guilty to charges of conspiring to bribe and/or false accounting, each receiving between 6-24 months imprisonment.

Companies that have paid bribes can try to undo some of the harm through reparations. Enforcement agencies might also compel reparations to be made. This article outlines some of the forms that reparations can take and provides case studies from past enforcement actions.

This case study of the AWB class action examines allegations that can be made when a company does not report suspected corruption. 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 resource unpacks the key role played by whistleblowers in identifying instances of foreign bribery. Approaches to encouraging whistleblowers to report suspected instances of bribery to law enforcement are explored, including ensuring effective legal protection from reprisals. Case studies of the various approaches are provided from around the world to offer practical examples of the recommendations in action.