Illegal cartel whistleblower reward raised to £250,000

Aaron Morby 12 months ago
Share

Whistleblowers providing information on the operation of illegal cartels they have witnessed will now receive cash rewards of up to £250,000.

The reward hike and guarantee of anonymity to whistleblowers is part of a major new campaign by the Competition and Markets Authority to crackdown on cartels.

The cartel watchdog hopes to uncover more illegal activity in industry’s like construction where bid-rigging was recently uncovered among 10 demolition contractors and 12 years ago found to be widespread with more than 100 firms fined nearly £130m for operating cover pricing rings.

Previously informants could be paid up to £100,000.

The reward is separate from the CMA’s leniency programme where a business or an individual that has participated in a cartel may escape sanctions if they come forward with information about the cartel, provided certain conditions are met.

Businesses found to have been involved in illegal cartels can be fined up to 10% of their annual turnover, individuals directly involved can face up to 5 years in prison, and company directors can be disqualified from holding director positions for up to 15 years.

Michael Grenfell, executive director of Enforcement at the CMA, said: “Cartels can cause serious damage to their customers, whether businesses or individual people, weakening price competitiveness.

“The CMA’s job is to stamp out illegal cartels, but because cartels are generally conducted in secret, we need to encourage people to come forward and provide us with the information we need to crack down on cartels and protect people and businesses from the harm they cause.

“For these reasons, we are today increasing the maximum financial reward for informants and whistleblowers who provide us with valuable information about cartels so that we can take action.”

Further cases of suspected cartel are currently under investigation.

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

Rewards are at the discretion of the CMA. It will pay a reward if the information concerned is significant in nature and leads to enforcement action  against those involved in cartel activity.

 

Latest news

McAlpine pulls out of £55m Carlisle Citadels project

University of Cumbria starts hunt for replacement contractor
3 days ago

Strabag UK suffers further big trading loss

Austrian contractor is gearing up for major presence in the UK market
2 days ago

Durham Uni picks UPP for £130m student scheme

Firm will deliver 1,000 self-catered bed spaces
2 days ago

Architects now upbeat after 10-months of work gloom

Larger practices see rising workloads in next three months
2 days ago

Motorist dies after collision with road paver

Police Scotland investigating fatal crash
3 days ago

McLaren Living appoints HG Construction for £69m scheme

Build to Rent scheme will transform former vacant car park site in Leeds city centre
3 days ago

Squibb liquidator probes £2m of “missing” plant

Machinery, cars and scrap metal have disappeared at demolition specialist
3 days ago

Galliford Try to re-enter affordable homes market

Contractor sets out new five-year plan to build margin to 4%
3 days ago

Former Sellar chief to lead civils contractor Kilnbridge

Owen Dannatt joins as new CEO as founder Dermot McDermott becomes Chairman
3 days ago

Hunt starts for nuclear fusion plant construction partner

Fusion energy plant to be built at West Burton coal power station site.
3 days ago

National Grid raises £7bn for big infrastructure upgrade

Rights issue to fund a major round of capital investment in energy infrastructure
3 days ago

Grenfell police probe to last at least until end of 2025

19 companies and 58 individuals could eventually face charges
3 days ago

Mace confirmed on £100m London office retrofit

Work underway on Helical's 100 New Bridge Street job near Ludgate Circus
4 days ago

Wylfa chosen for next big nuclear power station build

Government names Anglesey site for a large-scale gigawatt nuclear power plant.
4 days ago

Bowmer & Kirkland trading profit halves

Contractor buys HVAC specialist Adcock despite challenging market
4 days ago

Piling specialist Van Elle plans further job cuts

Piling specialist plans further cost savings in face of lower demand
4 days ago

Civils contractor A Catlow files administration notice

High voltage cable specialist lodges court notice
4 days ago

Green light for ARC Oxford lab campus

Work to start later this year on £40m Ascent building job
4 days ago

Stonehenge tunnel hit by another legal delay

Court upholds latest appeal against £1.7bn scheme by campaigners
5 days ago

Plans go in for huge Olympic Park construction hub

Bow Goods Yard could deliver 3.5m tonnes of materials a year to sites across London
5 days ago

40% affordable homes target for Labour’s new towns

Labour pledges to select new town sites by end of first year
5 days ago

Plan for £100m Liverpool Baltic station

Construction work could begin next year
5 days ago

Surgo Construction went down owing £4.5m

Biggest creditor is Bellway Homes after dispute on housing job
5 days ago

Vistry seals £157m West London housing deal

Around 575 homes to be built at Merrick Place scheme in Ealing
5 days ago

Streamlined Watkin Jones returns to profit in first half

Multi-room specialist sees secured work pipeline hit £1.4bn
5 days ago

Bellway hires ex-brickie as group construction chief

James Griffin to oversee move to the Future Homes Standard and timber frame.
5 days ago

Persimmon under fire for delays to £10m relief road

West Suffolk Council serves Breach of Condition Notices after timetable slips again
5 days ago

BAM wins £33m Kent secondary school job

Replacement Swanley academy to be built at live school site
5 days ago

Aluminium cladding specialist collapses

Melton Mowbray-based firm worked for several main contractors
6 days ago

Brickwork contractor Lee Marley returns to profit

Affordable and rental homes demand lifts brickwork contractor
6 days ago

Contractor services