October 24, 2017 | Corporate Compliance Insights

As U.S. Enforcement Lags, International Attention to Domestic Corruption Takes a Front Seat

2 min

Warren Hamel, Maggie Grace, and Nicholas Mongelluzzo published "As U.S. Enforcement Lags, International Attention to Domestic Corruption Takes a Front Seat" in Corporate Compliance Insights on October 24, 2017. Here is an excerpt from the article:

Indeed, the biggest FCPA settlement of the year, the $965 Million Telia Resolution, was a joint effort among U.S., Dutch and Swedish authorities. While commentators may disagree about the cause of the apparent slowdown, or whether it will continue throughout the Trump presidency, it is undeniable that since January 23, 2017 enforcement authorities abroad have grabbed the major headlines in the international anti-corruption space.

Brazil’s "Operation Carwash," arguably the biggest corruption scandal in history, has resulted in the prosecution of government officials and private companies involved in money-laundering and bribery schemes, including 179 indictments, 93 convictions and the forfeiture of billions in illicit funds. Brazilian federal authorities continued throughout 2017 to make front-page news with an investigation into the world’s largest meatpacking company, JBS SA, which has been accused of paying millions in bribes to food inspectors across the world, including in the European Union and China. The CEO of JBS was arrested on September 13 on insider trading charges relating to the underlying investigation. Brazilian authorities have also made waves in their probe into a “cash-for-votes” scheme relating to the awarding of the 2016 Rio de Janeiro Olympic Games, which recently culminated in the arrest of the president of the Brazilian Olympic Committee.