>Transparency International UK

>

Press Statement
For immediate release

SETTLEMENT OVER BAE SYSTEMS CORRUPTION CASES IS ENCOURAGING

Commenting on settlement of the Serious Fraud Office (SFO) and Department of Justice (DoJ) investigations of BAE Systems for foreign bribery today,

Chandrashekhar Krishnan, Executive Director of Transparency International UK said:

“The SFO and DoJ must be congratulated on finally achieving an outcome.  It is important for companies to receive large fines if they have engaged in unethical behaviour.  We hope this settlement will now allow BAE Systems to draw a line under its past and will send a message to UK companies that corruption does not pay.

“When the full details of the settlements are known, it will be clearer whether the penalties are sufficiently high in relation to the seriousness of the offences; whether the company will be subject to debarment from government contracts; whether individuals will be prosecuted and whether an external compliance monitor will be appointed.

“This action, particularly by the DoJ, which has imposed a much larger penalty and has also dealt with the Al Yamamah investigation, also highlights the need for a new Bribery Act in the UK. For a Bribery Act to be successful, sufficient resources for effective enforcement will be crucial in order to deliver faster prosecutions and encourage companies guilty of corrupt practices to admit their guilt and not spend years blocking investigations.”

 

-ENDS-

For more information or to arrange interviews, please contact:

Chandrashekhar Krishnan, Executive Director, 0207 785 6357 or 07816 311070
chandu.krishnan@transparency.org.ukThis e-mail address is being protected from spambots. You need JavaScript enabled to view it

or

Robert Barrington, Director of External Affairs, 0207 785 6360 or 07734 744 877
robert.barrington@transparency.org.ukThis e-mail address is being protected from spambots. You need JavaScript enabled to view it

Notes to the editor

Corruption is the abuse of entrusted power for private gain. It hurts everyone whose life, livelihood or happiness depends on the integrity of people in a position of authority.

Transparency International UK is the UK Chapter of the world’s leading non-governmental anti-corruption organisation, Transparency International (TI). With more than 90 Chapters worldwide, and an international secretariat in Berlin, TI has unparalleled global understanding and influence.

  • We raise awareness about corruption
  • We advocate legal and regulatory reform at national and international levels
  • We design practical tools for institutions, individuals and companies wishing to combat corruption
  • We act as a leading centre of anti-corruption expertise in the UK.
Press Statement
For immediate release

SETTLEMENT OVER BAE SYSTEMS CORRUPTION CASES IS ENCOURAGING

Commenting on settlement of the Serious Fraud Office (SFO) and Department of Justice (DoJ) investigations of BAE Systems for foreign bribery today,  

Chandrashekhar Krishnan, Executive Director of Transparency International UK said:

“The SFO and DoJ must be congratulated on finally achieving an outcome.  It is important for companies to receive large fines if they have engaged in unethical behaviour.  We hope this settlement will now allow BAE Systems to draw a line under its past and will send a message to UK companies that corruption does not pay.

“When the full details of the settlements are known, it will be clearer whether the penalties are sufficiently high in relation to the seriousness of the offences; whether the company will be subject to debarment from government contracts; whether individuals will be prosecuted and whether an external compliance monitor will be appointed.  

“This action, particularly by the DoJ, which has imposed a much larger penalty and has also dealt with the Al Yamamah investigation, also highlights the need for a new Bribery Act in the UK. For a Bribery Act to be successful, sufficient resources for effective enforcement will be crucial in order to deliver faster prosecutions and encourage companies guilty of corrupt practices to admit their guilt and not spend years blocking investigations.”

-ENDS-

For more information or to arrange interviews, please contact:
Chandrashekhar Krishnan, Executive Director, 0207 785 6357 or 07816 311070
Chandu.krishnan@transparency.org.ukThis e-mail address is being protected from spambots. You need JavaScript enabled to view it
or
Robert Barrington, Director of External Affairs, 0207 785 6360 or 07734 744 877 Robert.barrington@transparency.org.ukThis e-mail address is being protected from spambots. You need JavaScript enabled to view it

Notes to the editor
Corruption is the abuse of entrusted power for private gain. It hurts everyone whose life, livelihood or happiness depends on the integrity of people in a position of authority.
Transparency International UK is the UK Chapter of the world’s leading non-governmental anti-corruption organisation, Transparency International (TI). With more than 90 Chapters worldwide, and an international secretariat in Berlin, TI has unparalleled global understanding and influence.
• We raise awareness about corruption
• We advocate legal and regulatory reform at national and international levels
• We design practical tools for institutions, individuals and companies wishing to combat corruption
• We act as a leading centre of anti-corruption expertise in the UK.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s