ABAC Compliance

Companies may be subject to a growing assortment of ABAC laws, including:

  • The U.S. Foreign Corrupt Practices Act (FCPA)
  • The UK Bribery Act
  • Brazil’s Clean Companies Act
  • Canada’s Corruption of Foreign Public Officials Act

These laws can apply extraterritorially, meaning that maintaining compliance for companies with a global presence can be complex and onerous. Corruption exists in different levels and forms across different countries. The Corruption Perception Index (CPI) compiled by Transparency International, a non-governmental entity that tracks and reports corporate and political corruption around the globe, is one starting point in assessing risks. The 2015 CPI ranked the United Kingdom as the 10th least corrupt nation, the United States in 16th position, Brazil in 76th, China in 83rd, and Russia in 119th. Notwithstanding, the OECD’s recent finding that bribery frequently occurs in countries with high levels of human development shows that risk assessment is more complex than any one statistic.

Resources:

Request More Information

To learn more about how we can help your organization build a risk-based, credible and defensible third-party compliance program contact a STEELE client director now.