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Financial Institutions Likely to Be First Targets for U.K. Anti-Bribery Act Enforcement
By Kieran Beer
printFinancial institutions operating in the U.K. could be among the first companies fined under a new British anti-bribery law, according to speakers at an anti-money laundering conference in Amsterdam Monday. While the U.K. Bribery Act of 2010 will apply to all businesses in the U.K., the financial sector will be expected to have its mandated procedures in place before other industries, according to Stephen Hancock, founder of AML Analytics, Ltd, a London-based consultancy. "I think you will see a financial firm made an example of first for not having adequate [anti-bribery] procedures in place, not for actual bribery" said Hancock,...
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