Price-fixing whistleblowers offered £100,000 reward

Aaron Morby 7 years ago
Share

Whistleblowers are being offered up to £100,000 for exposing price-fixing in construction as part of a major crackdown by the Competition and Markets Authority.

The reward is being highlighted as the CMA launches its first-ever advertising campaign to stamp out cartel activity.

It applies to all industries but recent research by the cartel-busting authority highlighted construction as most at risk to anti-competitive behaviour.

This research revealed that 44% of businesses who had been in contact with others in their industry – who weren’t their suppliers – were in contact in relation to a transaction and approaching one in 10 openly reported that they had discussed prices. This rose to 22 % for the construction sector.

Construction also exhibited the strongest signs of anti-competitive behaviour with over two-fifths of businesses feeling they had been disadvantaged through the non-compliant behaviour of competitors.

The CMA’s campaign ‘Cracking down on Cartels’ will encourage people who have witnessed illegal activity to report it, by offering a reward of up to £100,000 as well as promising them anonymity.

Andrea Coscelli, acting chief executive, said: “Cartels are both harmful and illegal, and the consequences of breaking the law are extremely serious. That is why we are launching this campaign – to help people understand what cartel activity looks like and how to report it so we can take action.”

Businesses found to have been involved in illegal cartels can be fined up to 10% of their annual turnover, while individuals can face up to five years in prison and directors can be disqualified from holding director positions for up to 10 years.

These can be reduced or eliminated altogether where a business or individual reports their involvement in a cartel and co-operates fully with the CMA’s investigation.

To report a cartel: email [email protected] or ring 0800 085 1664 or 020 3738 6888.

Latest news

Director jailed for exposing workers to asbestos

Ten tonnes of asbestos insulating board stripped out by unqualified workers
3 hours ago

Site labour rates start rising again

Industry's biggest payroll firm says "it feels like things could be turning round"
8 hours ago

Council finds extra £33m for Buckinghamshire link road

South East Aylesbury Link Road costs soar by nearly 30% to £147m
7 hours ago

Quartet win £490m North West & Central railway works deal

Skanska, Kier, Octavius Infrastructure and Story Contracting bag major projects deal
8 hours ago

Unite Students plans first major mixed-use scheme

Developer's first mixed BTR and PBSA project to be built in Edinburgh
23 hours ago

Galliford Try names new finance director

Rentokil's Kris Hampson joins contractor to replace Andrew Duxbury
9 hours ago

Council boss hits out at bat threat to £274m road job

Natural England could scupper scheme due to be built by Ferrovial
9 hours ago

Hydrogen-fuelled diggers to be allowed onto highways

Government to raise barrier to widespread use of hydrogen fuelled plant in construction
1 day ago

Plans in for £118m Government hub in Darlington

Work pencilled to start later this year on new home for 1,450 civil servants
24 hours ago

New contractor highlights Henry Construction jobs on website

New firm lists jobs by failed contractor to show its experience
1 day ago

Contractors line up for £2.6bn Anglian Water AMP8 deal

Eight big names land places on pioneering @one Alliance
2 days ago

McAleer & Rushe bags first major later living project

Work to start this month on 167-flat Royal Tunbridge Wells project
1 day ago

Kier starts first all-electric prison houseblock job in Kent

Next-generation fully electric T60 prison houseblock to be built at HMP Elmley
1 day ago

Keepmoat sees better times ahead in housing market

Profits dip in 2023 despite construction of record number of new homes
1 day ago

Vistry signs partnership deals for 1,900 mixed tenure homes

West Sussex former airfield and Newmarket sites to break ground
2 days ago

Turnover at Wates tops £2bn for first time

Construction division exceeds £1bn turnover as average contract value hits record high of £48.3m
2 days ago

L&G looks to sell Cala Homes in exit from house building

Insurance giant reported to be preparing to offload 3,000 homes-a-year developer
3 days ago

Multiplex profit almost trebles as margin hits 5.5%

Revenue jumps 20% to £675m as big London scheme complete
2 days ago

TopHat puts plans to open huge Corby factory on hold

Advanced manufacturing facility was due to employ 1,000 people
2 days ago

Laing O’Rourke lands Calderdale hospital job

Enabling works to start by the end of this year at West Yorkshire site
2 days ago

Go-ahead for £475m Sunderland film and TV studios

Work to start this year on first phase Corwn Work studios
2 days ago

Willmott Dixon set for £20m Stockport Community Hub

Planning decision expected in June on Marple leisure and health clinic project
2 days ago

Police hunt for blundering dumper truck thief

Raider drove into a fence before getting stuck on a bank
2 days ago

Beattie Passive files administration notice

Passivhaus pioneer has been in business for more than ten years
3 days ago

McAlpine set for £50m space and tech centre

Northumbria Uni sign pre-con deal for new satellite research hub
3 days ago

VolkerFitzpatrick seals £34m Kent road viaduct

Work to start next year on Sturry Link Road near Canterbury
3 days ago

Eight win £600m Scottish civil engineering framework

Balfour, Farrans, Graham and Morgan Sindall win major works lot
3 days ago

Site engineer crushed to death by excavator

22-year-old victim died just months after graduating from university
5 days ago

NG Bailey fined £135,000 after hospital site death

Worker died after striking overhead beam while navigating a mobile elevating work platform
6 days ago

Kier lands £30m Mansfield Connect project

Construction to start in January 2025 on town centre regeneration scheme
3 days ago

Contractor services