SFO issues overseas corruption guidance

New Serious Fraud Office (SFO) guidelines for companies that discover internal involvement in overseas corruption aim to encourage more self-reporting. Firms will be attracted by the prospect of civil settlement rather than criminal prosecution, which would debar them from tendering for public contracts. There is also the appeal of managing any reputation fallout by agreeing the wording of public statements and enlisting SFO help to negotiate a global resolution with foreign authorities.