Australia has unveiled the most significant anti-corruption shake-up for 20 years with the Combatting Corporate Crime Bill. Can it deliver?
The Crimes Legislation Amendment (Combatting Corporate Crime) Bill (the Combatting Corporate Crime Bill) will be the most significant shake up of Australia’s anti-corruption landscape for companies since the foreign bribery offence was introduced in 1999. It introduces a new ‘failure to prevent’ foreign bribery offence, lays the groundwork for Australian regulatory guidance on anti-corruption compliance programs, and opens the way for a new enforcement model for corporate crime through a deferred prosecution agreement (DPA) scheme.
With the ALRC’s Report on Corporate Criminal Responsibility broadly endorsing key elements of the Combatting Corporate Crime Bill, we expect it to continue moving through Parliament in future sittings.
In this briefing our team canvasses five questions to ask to help ensure you and your organisation are ready for these anticipated changes.