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For many years the U.S. Foreign Corrupt Practices Act has been the dominant antibribery regulation affecting multinational companies. More recently, the UK Bribery Act of 2010 has been in the spotlight, with a broader jurisdictional reach and subject matter scope. Complying with these and other antibribery laws often requires companies with global operations to transfer data across borders. Meanwhile, data privacy regulations have been enacted in many jurisdictions, particularly countries in the European Union. The privacy laws continue to evolve, and proposed new E.U. data protection regulations are currently under review. Complying with both antibribery laws and data protection regulations can be challenging, as they at times appear to be in conflict with each another. Failure to comply with current E.U. requirements could result in significant monetary fines, criminal penalties, and an outright ban against the transfer of personal data outside of the E.U., making it even more critical that companies correctly navigate the requirements of both sets of laws.
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