The City of London Corporation has published a report it commissioned from Transparency International on how to avoid corruption risks and the new Bribery Act. The report says the City showed complacency about the risks of bribery and corruption but businesses must now understand what practices may be corrupt and recognise high-risk activities. Most firms either did not have in place policies that would address corrupt practices or thought their policies would not be effective. The Bribery Act is about prevention and disclosure and firms must be ready to act quickly when necessary. The report says companies should assess their vulnerability to corruption risk, and should design and implement practices to prevent bribery and corruption arising. It recommends professional associations help their members and calls on regulators to help educate companies and on enforcement agencies to develop a consistent and transparent enforcement approach. It also encourages a ban on facilitation payments at OECD level.