United States: U.S. strategy on countering corruption reflects global enforcement

The White House on December 6 released the first-ever U.S. strategy for countering corruption.

This follows President Biden’s June announcement elevating the fight against corruption to a core U.S. national security interest, and coincides with the Justice Department’s updated enforcement policy, as well as the Organisation for Economic Co-operation and Development’s updated anti-bribery recommendations.

While the strategy’s five pillars are laudable goals for a new whole-of-government response to foreign corruption, expanded transnational enforcement coordination, and closing financial system gaps that corrupt actors have exploited, the practical impacts for companies can be lost in its policy language and lists of objectives.

Beyond the pillars, companies should watch five concrete trends to make sure their own compliance programs evolve to keep pace with expanding enforcement.

This article was originally posted on bloomberglaw.com

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