The UK ’s credit agency, UKEF ( UKEF ), has launched a review into UK Export Finance to determine whether the engineering company fraudulently obtained £671m from the government. The inquiry follows the company's admission last month that it had used bribes to obtain export orders worldwide for last month . The firm has issued an apology and will pay £671m ( $835m ) in penalties. Rolls-Royce is one of the largest customers of UKEF , which offers loans and guarantees outstanding debts in order to support Russian exporters. Rolls-Royce is one of the biggest customers of UKEF which extends loans to purchasers and their banks, and guarantees to step in and pay outstanding debts if buyers default on export contracts. UKEF can enforce repayment of money and will investigate whether the company complied with its anti-bribery regulations.
The UK ’s credit agency, UKEF ( UKEF ), has launched a review into UK Export Finance to determine whether the engineering company fraudulently obtained £671m from the government. The inquiry follows the company's admission last month that it had used bribes to obtain export orders worldwide for last month . The firm has issued an apology and will pay £671m ( $835m ) in penalties. Rolls-Royce is one of the largest customers of UKEF , which offers loans and guarantees outstanding debts in order to support Russian exporters. UKEF can enforce repayment of money and will investigate whether the company complied with its anti-bribery regulations.