Tuesday, July 17, 2012

Allegations of bribery and corruption carried out by a contractor working on an engineering project ~ on behalf of BP

It has been widely reported that British Petroleum (BP) has been in contact with the Serious Fraud Office (SFO) over recent allegations of bribery and corruption carried out by one of its contractors in Azerbaijan. The contractor self-reported incidents of bribery to the SFO after it came to light late last year. The name of the contractor has not yet been made public, however it is understood that the contractor was working on an engineering project on behalf of BP in Azerbaijan.

Neither BP or any of its employees are believed to have paid any bribes, however if the self-reported acts of bribery occurred after 1st July 2011, BP could potentially be found strictly liable for acts of the contractor as an associated person of BP. The Bribery Act 2010 makes a company criminally liable for acts undertaken by its employees, its agents and contractors.

More at this link

Source : MacRoberts Compliance & Regulatory Update 17/07/12

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