INTRODUCTION Contributed by: Eric Bruce and Justin Simeone, Freshfields US LLP
Freshfields US LLP 700 13th Street, NW 10th Floor Washington, DC 20005-3960 USA Tel: +1 202 777 4500 Email: Eric.Bruce@freshfields.com Web: www.freshfields.us
Anti-Corruption: The Global Picture We are proud to introduce the eighth edition of the Chambers Global Anti-Corruption Guide. The purpose of this Guide is to provide an over - view of current anti-bribery and corruption laws in a wide range of countries, including insights into key legal standards, enforcement policies, and emerging trends, from the perspective of leading practitioners in their respective jurisdic - tions. Global focus on combatting corruption Amid geopolitical turbulence in recent years, leaders from around the world have emphasised that anti-bribery and corruption efforts remain a top priority. In May 2023, following European Commission President Ursula von de Leyen’s promise to “eradicate corruption at home”, the Commission announced a significant package of reforms designed to strengthen prevention efforts, expand the definition of criminal corrup - tion, and increase criminal penalties and sanc - tions. Since that time, leaders around the world have echoed a similar emphasis on anti-bribery and corruption efforts. In September 2023, soon after becoming the Director of the UK Serious Fraud Office (SFO), Nick Ephgrave underscored the SFO’s commitment to fight corruption: “Fraud
wrecks lives and undermines the economy. I am committed to building the strong, dynamic and pragmatic authority the UK needs to fight today’s most heinous economic crimes”. In April 2024, he declared the SFO’s intention to become “the pre-eminent specialist, innovative and collaborative agency which leads the fight against serious and complex fraud, bribery and corruption”. Indeed, over the past year, the SFO has executed a number of dawn raids and new investigations in this area. Beyond Europe, the United States continues to be a driving force on anti-bribery and corrup - tion efforts. At the outset of his term in office, US President Joseph Biden declared corruption a matter of “national security”. In December 2023, he reinforced the message that “[c]orrup - tion poses an existential threat to prosperity, security, and democracy – for Americans and for people around the world”. In 2024, after a brief downturn in Foreign Corrupt Practices Act (FCPA)-related penalties during the pandemic years, US authorities imposed more than USD1 billion in FCPA-related penalties. Key developments in legislation, guidance, and enforcement initiatives The continued emphasis on combatting brib - ery and corruption is further evident from many
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