Be safe not sorry - understanding the consequences of getting involved in a cartel
Enterprises in Northern Ireland may not understand what a cartel is, and how it violates competition law. Find out more below.
When it comes to cartels, be safe not sorry
The UK Competition and Markets Authority is cracking down on illegal cartel activity, and has launched a campaign to help businesses stay on the right side of the law.
A cartel is a serious violation of competition law - it occurs where competing businesses get together to fix prices, share markets or rig bids for government or private sector contracts.
Cartels are bad for the UK economy - they're a form of stealing which affects other businesses, consumers and often taxpayers.
There can be serious consequences for those involved in cartels. Businesses can be fined up to 10% of their turnover, and individuals can face personal fines, be disqualified from acting as directors, and can even go to prison.
Visit www.gov.uk/stopcartels to find resources explaining what cartels are and how to report them, including:
- short videos
- real life case studies
- online quiz of your knowledge about cartels