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The Bribery Act of 2010 is a UK law that sets out rules and penalties for bribery and corruption. The law applies to businesses operating in the UK, as well as UK citizens and companies operating abroad.
Under the act, it is illegal to offer, promise, give, request, or receive a bribe. The act also makes it an offense for companies to fail to prevent bribery by their employees, agents, or anyone acting on their behalf. Companies can be held liable for the actions of their employees and face significant fines or even imprisonment.
To comply with the act, businesses must have adequate policies and procedures in place to prevent bribery and corruption. This includes conducting risk assessments, providing training to staff, and ensuring that suppliers and partners are also compliant with the act.