The Anti Bribery and Corruption Act 2020 was brought into effect by the Serious Fraud Office due to the UK’s financial crash and global economic crisis. The act aims to provide individuals and organizations with an appropriate level of protection against corruption and bribery. It prohibits certain conduct and encourages adopting certain practices and attitudes towards integrity, impartiality, and transparency in public life. It sets out many offenses, some of which apply to public and political life, and others, such as fraud, apply only to private and personal conduct. These offenses are all broadly defined and have specific definitions.
A person who commits these offenses will be subject to penalties that vary from one country to another. A person may also face imprisonment, fines, or both. Companies ensure that they comply with all the laws pertaining to the anti-bribery management system.