The Serious Fraud Office has accused a UK insurance company of failing to prevent international bribery in relation to state officials allegedly paid off in Ecuador.
If it makes it to trial, it will be the first time that a “failure to prevent” case will be heard by a jury, the SFO said. The offence was introduced in 2010 to stop companies and executives from standing by when bribery was taking place.
UIBL received a US$6.2 million commission to provide these services, of which US$3 million was allegedly paid to intermediaries.
They are accused of subsequently paying bribes to an Ecuadorian official in exchange for the contract.
Nick Ephgrave QPM, Director of the Serious Fraud Office, said: “The SFO remains committed to stamping out international bribery wherever it may occur. British companies have a duty to prevent the harm caused by bribery when doing business at home and abroad, to ensure that the UK remains a safe and fair place to do business.”
Representatives of the company will appear before Westminster Magistrates’ Court on Wednesday 7 May to face the charges.
