Update On Anti-Corruption And Bribery

In recent years, the focus on bribery and corruption has increased – not only in the press but also among the local governments, public authorities and international organisations. In Denmark, the recent preliminary charges against 13 people for potential violations of the Danish anti-bribery rules have once more brought anti-corruption into the spotlight.

The numerous rules on anti-corruption, for example the Danish Criminal Code, the UK Bribery Act and the U.S. Foreign Corrupt Practices Act (FCPA), have created a complex regulatory environment requiring companies to take comprehensive measures in order to ensure compliance. Noncompliance with anti-corruption laws may be sanctioned with high fines and hefty imprisonment sentences. For example, in December 2014 the French firm Alstom agreed with the US Department of Justice (DOJ) to pay a record fine of USD 772 million after pleading guilty to bribing officials in Indonesia, Saudi Arabia, Egypt and the Bahamas and