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Bribery Act of 2010

Assess supply chain partner anti-bribery and corruption practices

The Bribery Act of 2010 is a United Kingdom (UK) law that defines and enforces the crime of bribery to ensure companies can compete on a level playing field. Section 7 of the law introduced a new offense: the failure of an organization to prevent bribery on its behalf.

The UK government provides guidance to help organizations meet the requirements in the Act. Companies that use third parties should be aware of these provisions and assess their vendors, supply chain partners and other third parties accordingly.

Prevalent helps organizations assess their third parties against multiple anti-bribery, anti-corruption and ethics requirements and provides continuous reputational, compliance and corruption insights to ensure their third parties are complying with the law.

Relevant Requirements

  • Conduct third-party risk assessments to determine how a supplier's country, sector, transactional and partnership risks impact the organization

  • Perform due diligence as part of a wider governance approach to third-party risks

  • Validate supplier anti-bribery practices with external verification and monitoring

Navigate the TPRM Compliance Landscape

The Third-Party Risk Management Compliance Handbook reveals TPRM requirements in key regulations and industry frameworks, so you can achieve compliance while mitigating vendor risk.

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Meeting Bribery Act of 2010 Requirements

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    Supplier Pre-Screening

    Rapidly pre-screen vendors using a library of continuously updated risk profiles based on inherent/residual risk, assessment results and real-time reputational monitoring.

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    Comprehensive Supplier Profile

    Tap into 550,000+ sources of vendor intelligence to build a comprehensive supplier profile that includes industry and business insights and maps potentially risky 4th-party relationships.

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    Inherent Risk Scoring

    Use a simple assessment with clear scoring to track and quantify inherent risks and chart the right path for a complete ABAC assessment.

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    ABAC & Ethics Risk Assessment

    Leverage Prevalent's built-in Anti-Bribery and Ethics assessments to determine adherence to policies and identify potential areas of concern. Review and approve assessment responses to automatically register risks or reject responses and request additional input.

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    Supplier Reputation Monitoring

    Access qualitative insights from over 550,000 public and private sources of reputational information, including negative news, regulatory and legal actions, adverse media, conflicts of interest and more.

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    Financial & Investment Monitoring

    Tap into financial information from a global network of 365 million businesses. Access 5 years of organizational changes and financial performance, including turnover, profit and loss, shareholder funds transparency, and more.

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    Global Sanctions Monitoring

    Simultaneously screen against the world’s most important sanctions lists (including OFAC, EU, UN, BOE, FBI, BIS, etc.), over 1,000 global enforcement lists, and court filings (such as the FDA, US HHS, UK FSA, SEC and more) to proactively identify prohibited business relationships.

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    Politically Exposed Persons (PEP) Screening

    Screen against a global PEP database with access to over 1.8 million politically exposed person profiles, including families and associates, to identify potential leadership risks.

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    Corruption Perception Index Scoring

    Corruption Perception Index (CPI) scores of company head office countries add more business context to vendor risk analysis by delivering insights into a vendor’s viability and ethics.

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    State-Owned Enterprise Screening

    Avoid conflicts of interest by checking companies against a proprietary list of government-owned and government-linked enterprises.

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    Central Risk Register

    Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified reporting and remediation.

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    Built-in Remediation Guidance

    Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.

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    Document & Evidence Management

    Store and manage ABAC policy documents, evidence and more for dialog and attestation.

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    Relationship Mapping

    Identify relationships between your organization and third, fourth and Nth parties to discover dependencies and risks in your extended vendor ecosystem.

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    Compliance Reporting

    Visualize and address compliance requirements by automatically mapping assessment results to ABAC requirements.

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    Risk Reporting

    Identify, alert and communicate exceptions to common behavior with built-in report templates.

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This analyst report from GRC 20/20 uncovers best practices for including ESG in your third-party risk management program.

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