Anti-bribery and corruption

In today’s global and interconnected business environment, economic crime risk, particularly bribery and corruption, present a significant challenge. Companies must enforce robust anti-bribery processes with initiatives originating from boardrooms and management to inspire the right organisational culture. According to PwC’s Global Economic Crime Survey, in today’s global, interconnected environment, economic crime risk is a pervasive challenge.

Bribery encompasses offering, giving or receiving rewards to influence actions and behaviour, and is punishable under the Maltese Criminal Code. Corruption occurs when individuals or entities in positions of authority commit dishonest acts for private gain.

Penalties differ depending on the bribery stage: offering, acceptance or fulfilment. Companies and individuals involved in bribery will be liable to different imprisonment sentences.

When the offender holds a high-ranking office, has power of representation of a company, or holds authority to take decisions on behalf of a company, the said company may be liable to the payment of a fine (not less than €20,000 and not more than €2,000,000). Detecting exposure to bribery and corruption risks is imperative for all legal and physical persons.

Our Financial Crime Compliance team equips you to address, mitigate and progress from financial and economic crim disruptions. Our expertise helps you embrace anti-bribery and corruption best practices aligned with applicable legislation to foster an environment of integrity.

Our support includes:

· Carrying out anti-bribery and corruption risk assessments

• Due diligence exercises
• Drafting clear practical and accessible policies and procedures
• Assistance in the effective implementation of the anti-bribery and corrutpion framework
• Ongoing monitoring and review