A New Era of Transparency: Australia’s Foreign Bribery Prevention Laws
The Australian Government has passed legislation to reform Australia’s foreign bribery offences. The legislation introduces a new corporate offence for failing to prevent foreign bribery. The change commences 8 September 2024.
This new offence makes companies liable for foreign bribery by their ‘associates’ which include employees and contractors, unless they can show they had ‘adequate procedures’ in place to prevent such activity from occurring.
To help ensure your organisation has adequate procedures in place it’s essential to have robust anti-bribery training for your staff.
At GRC Solutions, we offer multi-jurisdictional versions of the anti-bribery training course which can be tailored to meet your company’s specific needs. Our courses can help your employees understand the legal and ethical implications of bribery, identify potential risks, and report any suspicious activity.
Our courses cover the new foreign bribery offences, as well as a wide range of topics, including:
- Identifying and preventing bribery risks
- Understanding the legal and ethical implications of bribery
- Implementing effective anti-bribery policies and procedures
- Reporting and responding to suspected bribery incidents
To learn more about our anti-bribery eLearning courses or to discuss how we can help your organisation comply with the new laws, please contact us.
More Resources
Read our article which explores how an effective compliance program protected Morgan Stanley from Peterson’s FCPA breaches and how such a program can serve as a potential due diligence defence under Australia’s new legislation.
Read the Guidance on adequate procedures to prevent the commission of foreign bribery document issued by the Australian Government Attorney-General’s Department, August 2024.