Retailers Must Adapt to the Bribery Act, Wadsworth Tells Retail Gazette

The new Bribery Act, introduced in the UK on July 1, has significant implications for retailers who are expanding beyond the domestic market, especially into markets that have a culture of unofficial payments. Because the new law applies to all people working on a company's behalf, whether in the UK or abroad, it means retailers need to take extra care over their international operations.

As Melanie Wadsworth explains in Retail Gazette, UK retailers can't afford to plead ignorance of the new rules, since they may become liable under the act for the actions of third parties who provide services to them.

"More than ever, it is important for retailers to carry out risk-based due diligence on the third parties who provide services to them and give careful thought to the terms of their agreements with such persons," she said.