Undercutting Latin America’s promising economic trends and glittering world events are the complex anti-corruption compliance challenges companies face when operating in the region. If they aren’t doing so already, now might be a good time for law firm compliance officers to view Latin America through the prism of anti-corruption programs. A relatively strong economy coupled with a spate of significant Foreign Corrupt Practices Act (FCPA) cases coming out of the region means that both business leaders and enforcement agencies are paying attention to Latin America. The challenge for international compliance counsel is to ensure that these two groups aren’t on a collision course.
As the debt crisis in Europe intensifies, the Chinese economy slows sharply and the U.S. economic recovery continues at its anemic pace, Latin America is one of the few economic bright spots on the world map. Growth projections for the region remain steady even given the relative weakness in Brazil buoyed by low global interest rates and strong commodity prices.
