Source: PricewaterhouseCoopers
Author name: PwC advisory services

Published: 11/04/2009

Summary:
In the past five years, the Department of Justice and the Securities and Exchange Commission have vastly increased the number of companies and individual executives they've investigated and prosecuted under the FCPA. Fines and penalties have significantly increased. Worldwide, 140 countries have signed the UNCAC, in which they commit to strengthening their corruption laws and cooperating in investigations that cross international borders. All companies today, no matter how honest and transparent, need to be aware of how they are exposed to this regulatory risk and how to safely expand into foreign markets.

In this edition of 10Minutes, PwC discusses the increase in prosecutions and fines being brought under the Foreign Corrupt Practices Act (FCPA), the spread of United Nations Convention Against Corruption (UNCAC) regulations, and the importance of developing an anti-corruption compliance strategy.

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