UK Bribery Act comes into force

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The UK Bribery Act has come into force, affecting all UK companies and, potentially, the firms that do business with them.

Under the Act, if an employee or agent of a firm is paying bribes on its behalf, then it may be liable regardless of whether it was aware of the payment or not.

This could result in a potentially unlimited fine, says Andrew Martin at the law firm Baker & McKenzie.

The Act could put UK businesses at a disadvantage when doing business in Asia, he adds.

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