Australian government warns against kickbacks

The Australian Government has put big business on notice to stamp out kickbacks as it moves to increase penalties for bribery offences.

The changes follow disclosures during the inquiry into the AWB kickbacks scandal that have prompted an Australian Taxation Office crackdown and a governance review by the ASX Corporate Governance Council.

Research has found only 51 of the top 100 listed companies have policies to prohibit the giving and receipt of kickbacks.