Report: Is Your Compliance Program Ready For A Multipolar World?
Introduction To The Report:
With political volatility at home and abroad, it’s tempting to assume that the days of escalating Anti-Bribery and Anti-Corruption (ABAC) enforcement are over. However, the facts tell a different story. The United States is doubling down on its commitment to the Foreign Corrupt Practices Act (FCPA) even as other countries gain strength and momentum in their respective ABAC efforts. From Brazil, to Peru, to South Korea, a new global trend is emerging: the notable increase in governments’ capacity and will to investigate, enforce and levy heavy penalties on ABAC violators. Now more than ever, businesses must develop agile compliance systems responsive to the complexity of this emerging global regulatory framework.
Report Conclusion:
An increase in the number of countries proactively pursuing corruption cases will make multinational settlement agreements—and the multiplied penalties that accompany them—the way of the future. This emerging multipolar enforcement environment presents heightened risk for ABAC compliance. Businesses can no longer target their resources only on FCPA compliance, but must anticipate the possibility of legal action and penalties from multiple countries. Global businesses require a compliance program that accounts for the different fronts of enforcement, and that is agile and responsive to political and legal turbulence.
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