As part of a major crackdown by the Competition and Markets Authority, whistleblowers are being offered up to £100,000 for exposing price-fixing in construction.
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 CMA highlighted construction as most at risk to anti-competitive behaviour. The research revealed that 44% of businesses who had been in contact with others in their industry, 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.
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@example.com or telephone 0800 085 1664 / 020 3738 6888.