The new directive replaces 2 previous laws and aims to harmonise the approach taken by member states across the EU.
Key updates include:
➡️ Harmonised Offences: The directive aligns key corruption offences across Member States, including public and private sector bribery, misappropriation, trading in influence, obstruction of justice, concealment and enrichment from corruption offences;
➡️ Aligned Penalties: Member States must introduce common minimum penalty levels, with prison sentences ranging from three to five years depending on the offence;
➡️ Corporate Liability: Companies may face fines ranging from 3% to 5% of total worldwide turnover, or from €24 million to €40 million, depending on the offence;
➡️ Prevention Measures: Member States must establish specialised bodies to prevent corruption and raise public awareness to support a culture of integrity; and
➡️ Implementation Timeline: The directive enters into force 20 days after publication in the Official Journal, with Member States given 24 months to transpose most provisions into national law.
✅ Firms operating in the EU should review anti-bribery and corruption frameworks and investigation procedures to assess readiness for more harmonised enforcement expectations.
💡Plenitude’s Advisory & Transformation Services provide independent assessments to help clients spot gaps in FCC frameworks, including Bribery & Corruption controls. Visit our website for more information: https://www.plenitudeconsulting.com/services/advisory-and-transformation