With growing international awareness and increasing activity from law enforcement and regulatory agencies, anti-bribery risk continues to increase. The US has set the pace with an exponential rise in Foreign Corrupt Practices Act (FCPA) prosecutions, which show no sign of abating. Corporations and executives have received large fines and significant jail sentences (more than seven years in one recent instance). Foreign private issuers are also covered by the FCPA, which allows US authorities to pursue bribery undertaken overseas by non-US companies and a number are under investigation or have paid multi-million dollar fines. Globally, other countries have been tightening their anti-bribery legislation and enforcement efforts, and we have seen some Canadian companies investigated by other jurisdictions.
This brochure sets out a number of recent anti-bribery developments and discusses how PwC can help you comply with the FCPA and other anti-bribery controls.