UK's anti-bribery laws will help businesses

Forthcoming anti-bribery legislation, which will ban UK companies paying "sweeteners" in countries where they are commonplace such as Nigeria and Russia, will not put British businesses at a competitive disadvantage, the head of the Serious Fraud Office has stressed.

Speaking to oil and gas firms in Aberdeen yesterday, SFO chief executive Richard Alderman said companies that have already adopted a zero tolerance approach towards such "facilitation payments" have found it has benefited their business.

He told the event, organised by law firm McGrigors: "I find it fascinating that corporates which have achieved zero tolerance tell me it is good for business. They find in practice their employees are not bothered for demands for these payments because it is known in other countries that the corporate approach is not to pay them."

The SFO, which has no jurisdiction in Scotland but whose guidance on the Bribery Act is likely to influence how Scots firms comply with the law, will also carefully monitor the behaviour of foreign companies that have substantial operations in the UK, Alderman said.

"It means we can now support a UK business that finds it has been disadvantaged by a foreign company which uses corruption, provided some part of that corporates business takes place in the UK. I would encourage UK corporations that feel they have lost out commercially through corruption to tell me about it and to provide evidence."