Global businesses cutting ties to avoid anti-corruption liability

MORE than half of companies are reconsidering ties to third-parties and joint ventures over concerns about anti-corruption liability, says research.

A survey by Dow Jones of more than 300 global firms found that companies were more aware of the need to review business relationships, with government sanctions and negative media ranked as the events most likely to trigger an assessment.

But less than a third said they were systematically scrutinising partners for unethical behaviour – a statistic that yesterday’s guidance on the UK Bribery Act is seeking to improve by emphasising monitoring and review.

“These findings lend credibility to the Bribery Act requirement that companies should have in place adequate anti-bribery due diligence procedures,” said Linklaters partner Satindar Dogra.