Compliance in Brazil: Truth or dare?

Daniel Soares (dsoares@ulhoacanto.com.br) and Fernanda Freitas (ffreitas@ulhoacanto.com.br) are Partners at Ulhôa Canto Advogados in Rio de Janeiro, Brazil.

Although the U.S. Foreign Corrupt Practices Act (FCPA) completes 40 years of anti-bribery enforcement worldwide by US authorities, the fight against corruption has just begun in Brazil, and the challenges seem to be impossible to overcome. Based on recent data obtained by a survey carried out by Transparency International, a nonprofit organization that researches the perception of public sector corruption in more than 180 countries, there is no good news for Brazil.

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