Amec has agreed to pay a £5m penalty after receiving $9m in “irregular payments” on a project in South Korea

The payments, which were reported by Amec to the Serious Fraud Office (SFO) in March 2008 after an internal probe, related to the Incheon Bridge project and were made between November 2005 and early 2007.

The SFO decided no proceedings would be brought against Amec but said the company should pay £4.9m after failing to keep accurate records.

Amec said it was “committed to the highest ethical standards” and gained “no improper commercial advantage” through the receipts.

The Incheon Bridge project was the firm’s final PPP project. The division to which it belonged was sold in mid-2007.

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