THE HON MARK DREYFUS KC MP
ATTORNEY-GENERAL
CABINET SECRETARY
MEMBER FOR ISAACS
Guidance for corporations on preventing foreign bribery
The Australian Government has released a new guide to assist corporations to implement effective anti-bribery compliance programs.
The passage of the Crimes Legislation Amendment (Combatting Foreign Bribery) Act 2024 earlier this year significantly strengthened Australia’s criminal offences on foreign bribery.
Under the new laws corporations will now be held directly liable for the foreign bribery activities of their employees, external contractors, agents and subsidiaries, unless the company can demonstrate it had adequate procedures in place to prevent bribery.
The Guidance on adequate procedures to prevent the commission of foreign bribery is principles-based, rather than a checklist, and is designed to be used by corporations of all sizes and in all sectors.
The Guidance reflects current international best practice and incorporates feedback received by the Attorney-General’s Department in the recent public consultation process.
The contribution and engagement of industry partners was vital in the development of the Guidance to ensure that it is robust, fit-for-purpose and practical, thereby reducing the burden on corporations as they develop their anti-bribery and corruption compliance frameworks.
To access the Guidance, visit the Attorney-General’s Department website.
Wednesday, 28 August 2024
