LATIN AMERICA ANTI-CORRUPTION EFFORTS EXPERIENCING “2 STEPS FORWARD, 1 STEP BACK”

On 8 July, a news release from Miller & Chevalier, announcing survey results, says that despite Latin America’s anti-corruption progress over the last decade, including blockbuster investigations, high-powered politicians and business leaders behind bars, and improved laws in key jurisdictions, new survey data reveals corruption risk to be at an all-time high across the region.  54% of survey respondents said corruption is a significant obstacle to doing business – up 10% since 2012 – while only 45% of respondents believe offenders are likely to be prosecuted, down from 66% in 2008. Enhancements to local anti-corruption laws in numerous countries are generating some signs of hope, the survey finds. When asked if they think anti-corruption laws are having an impact, respondents from these countries show greater optimism than the regional average of 50%: Argentina (72%), Brazil (74%), Chile (59%), Colombia (55%), Mexico (68%), and Peru (63%). The news release also says that the survey results on common areas of bribery risk bring into focus specific COVID-related corruption threats, but that more companies, both local/regional companies and multinationals, are embracing corporate anti-corruption compliance standards, a trend that has steadily increased over the last decade.

https://www.millerchevalier.com/news/latin-america-anti-corruption-efforts-experiencing-two-steps-forward-one-step-back-new-miller

The survey is at –

https://www.millerchevalier.com/sites/default/files/publications/LACS/2020-Latin-America-Corruption-Survey-Report_English.pdf

 

 

 

 

 

 

 

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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