I set out six cautionary lessons for Malaysian companies arising from the Airbus US$4 billion global resolution for bribery involving authorities from the UK, France and the United States.
In the UK, Airbus faced five counts of failure of a commercial organisation to prevent bribery. This was under section 7 of the UK Bribery Act. This section 7 is a similar provision to Malaysia’s section 17A of the Malaysian Anti-Corruption Commission Act, known as the corporate liability provision. I have written about the elements of Malaysia’s corporate liability here.
You can read the UK High Court grounds of judgment in relation to the Airbus settlement through the deferred prosecution agreement. You can also read the detailed agreed Statement of Facts for all the background facts.
From the Airbus case study, I set out below six cautionary lessons for Malaysian companies, especially where we are on the brink of seeing the introduction of corporate liability on 1 June 2020. Continue reading