Companies to be liable for failing to prevent foreign bribery under new laws to commence on 8 September 2024: Are you ready?
The Crimes Legislation Amendment (Combatting Foreign Bribery) Act 2024 (Cth) amends the Criminal Code Act 1995 (Cth) with effect from 8 September 2024. The two key amendments include repealing the existing offence of bribing a foreign public official and replacing it with a new offence to address investigative and prosecutorial issues; and introducing a new offence for companies that fail to prevent foreign bribery committed by their associates.
Legal update, Companies to be liable for failing to prevent foreign bribery under new laws to commence on 8 September 2024 provides an overview of the two new offences and guidance on what companies should do now.
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