Impact of foreign Anti-Corruption campaigns | Bangkok Post: business

CORPORATE COUNSELOR

Recent trends showcase a clear intent by two of the world's global powers to tackle corruption abroad. The United States, through the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), has dramatically increased its investigation and enforcement of the Foreign Corrupt Practices Act (FCPA). In addition, in 2010 the United Kingdom acted aggressively to address an historical weakness in its anti-bribery laws by enacting the UK Bribery Act.

These laws, combined with supporting whistleblower legislation and active enforcement by relevant authorities, represent some of the world's most aggressive anti-bribery efforts to date, efforts that directly impact the operations of multinationals and their partners operating in Thailand.

The FCPA was enacted in 1977 but through the 1990s there was little aggressive enforcement against corrupt practices abroad committed by US companies and their representatives. However, with a number of high-profile corruption scandals during the last decade (including two involving activities in Thailand), prosecutions have increased dramatically.