In this episode Partner Aaron Lloyd is joined by Senior Associate Daniel Fielding, to discuss the recent changes in anti-bribery and corruption (AB&C) laws in Australia and discuss their implications for New Zealand businesses. Their discussion covers the increased regulatory focus on corporate misconduct, the recent amendments to the Criminal Code Act 1995 in Australia with the passing of the Crimes Legislation Amendment (Combating Foreign Bribery) Act 2024 (the CFB Act), and how businesses can stay ahead of the curve by implementing robust (AB&C) compliance measures. 

[00:34] Aaron and Daniel discuss the increased focus by regulators on corporate misconduct and the measures businesses are taking to mitigate risks. Various areas of focus are mentioned, including sanctions, industry-related regulation, tax and financial obligations, health and safety, privacy, and minimum employment terms. The continued and inevitable regulatory focus on anti-bribery and corruption.

[01:30] Aaron asks Daniel about the recent changes in Australian AB&C laws. Daniel explains the major reforms in Australia over the past 24 months, including the establishment of the National Anti-Corruption Commission in 2023 and the Crimes Legislation Amendment (Combating Foreign Bribery) Act 2024.

[02:26] Aaron discusses the amendments to Australia's criminal code by the CFB Act. Daniel details the widened reach of foreign bribery laws, the new definitions and offenses introduced by the CFB Act, and the creation of a new offense for failing to prevent bribery by an associate.

[04:51] The discussion shifts to the global consistency of AB&C requirements, particularly aligning with the United Kingdom's Bribery Act 2010. Aaron highlights the similarities between previous reforms to New Zealand's Crimes Act 1961 and the UK's failure to prevent offense.

[07:04] Aaron discusses what the Australian reforms mean for New Zealand businesses. Daniel talks about the increased focus of the Serious Fraud Office (SFO) in New Zealand on corruption offenses and the likelihood of future prosecutions for foreign bribery.

[10:45] Aaron discusses what constitutes adequate procedures for AB&C compliance, referencing guidance from the Australian Attorney General's Department and the UK Secretary of State for Justice. Key elements include fostering a control environment, top-level management responsibility, risk assessment, communication and training, reporting foreign bribery, and monitoring and review programs.

[15:57] Aaron explains the concept of deferred prosecution agreements (DPAs) and their role in regulatory compliance. The discussion covers the potential for DPAs to incentivise self-reporting in New Zealand and Australia.

[18:45] Aaron summarises the key points discussed in the episode. He emphasises the importance of New Zealand businesses staying ahead of the curve by implementing robust AB&C compliance measures. He encourages businesses to review their practices with an AB&C lens and to ensure they have adequate procedures in place.

Information in this episode is accurate as at the date of recording Tuesday, 25 March 2025.

Please contact Aaron Lloyd or Daniel Fielding in our Litigation team if you need legal advice and guidance on any of the topics discussed in this episode.

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You can read our full Litigation Forecast 2025 article on "Anti-Bribery and Corruption: Is AB&C a bellweather for increased White-collar and Regulatory Expansion for Leading Businesses? here.