British business was branded yesterday with an unprecedented corruption health warning by leading industrialised nations. They were angered by London's dropping of an inquiry into BAE Systems' Saudi Arabian arms deals and its failure to pursue other cases of suspected foreign bribery.
BAE Systems
OECD ANTI-CORRUPTION REPORT ON UK
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Corrupt to the core *(Shell played a key role in the BAE affair)
The then prime minister, Tony Blair, aided and abetted by a compliant attorney general, personally intervened to stop a criminal investigation into BAE, on the grounds it was upsetting the company, and upsetting the Saudi royal family, who had received many hundreds of millions of pounds in secret payments.
‘Abysmal’ Bribery Laws Shamed *(take note Shell)
The report is expected to attack the UK's record in prosecuting companies and individuals who have paid bribes to foreign public officials.
UK slammed for ‘bribery’ inaction *(take note Shell)
The OECD, the only international body enforcing anti-bribery accords, launched a review of UK anti-bribery measures in the wake of the decision of the Serious Fraud Office in 2006 to drop an investigation into BAE Systems over an arms deal with Saudi Arabia.
Warning over UKs overseas bribes culture *(take note Shell)
The action highlights the rising cost of Londons failure to bring bribery prosecutions against its multinationals when other European countries and the US are pursuing their companies.
Prince Andrews office office confirms sale of house for £15m (inclusive of alleged £3m gift/payment/bribe?)
The Kazakh president, Nursultan Nazarbayev, is the other patron of an organisation whose sponsors include Shell...
BAEs long shadows
Financial Times: BAEs long shadows
Published: May 6 2008 19:50 | Last updated: May 6 2008 19:50
More than window-dressing but not enough to draw a line under sustained criticism: Lord Woolfs report on ethical business conduct at BAE Systemscontains 23 specific recommendations to bring about and underpin a serious change of culture at Europes largest defence contractor. Yet the Woolf committees authority is inevitably diminished by a remit that meant it could not address past corruption allegations, notably in Saudi Arabia.
The report has several practical ideas about how to make ethical behaviour a priority at BAE. It sets new terms for the use of advisers and seeks to end facilitation payments. It gives the board an explicit role in assessing ethical and reputational risk. It demands that BAE commission and publish an independent audit of its conduct within three years. If fully implemented, the report would make BAE a benchmark of best practice in a sector not known for openness.
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