SFO finalises first DPA with Standard Bank in bribery case

The UK Serious Fraud Office (SFO) has confirmed its first deferred prosecution agreement (DPA) after approval, on 30 November, at Southwark Crown Court. [1] As a result, a bribery charge against Standard Bank will now be suspended for three years, after which the SFO will drop criminal proceedings, provided the bank complies fully with the DPA’s terms. It requires an independent review by PricewaterhouseCoopers (PwC) of the bank’s anti-bribery and corruption controls, policies and compliance procedures, and any recommendations will have to be implemented.