We are on the brink of something truly exciting. While the fight against corruption has persisted for decades, it is in recent years that momentum in anti-corruption efforts has gained steam and increased visibility. The world is demanding for an ethical and transparent global marketplace – and today’s anti-corruption fight has entered into an era marked by growing market and regulatory expectations intolerant of corruption.
Revolutionising public discourse on corruption, today’s technology age has fuelled a growing collective voice that calls for increasing transparency. 2016 proved to have been a year of awakening for many corporates, with businesses across the world finding they are being held to increasing expectations of ethical conduct; as the corrupt continue to find themselves thrust into the spotlight. Mere allegations of misconduct within an organisation’s supply chain can now be enough to influence public opinion and attract regulatory attention. For organisations looking to expand business operations in today’s global economy, they inadvertently find themselves wedged in increasingly complex business networks. Risk exposure and accountability are undeniably at an all-time high.
From the enactment of the Foreign Corrupt Practices Act (FCPA) in 1977 marking a milestone in the illegality of corruption, to new and increasing domestic anti-corruption efforts in almost every part of the world today, where is the global anti-corruption movement headed?
While not exhaustive, this special report features a timeline (pages 12 to 21) of key defining moments across 40 years of anti-corruption developments since the FCPA and also outlines key trends and future driving forces shaping a world that is increasingly intolerant to corruption. Particularly for those tasked to safeguard their organisation’s compliance and legal obligations, and consequently their reputation and bottom line, understanding the evolving anti-corruption landscape has never been this critical. The time is now for organisations to ensure their compliance efforts are effectively keeping pace with today’s landscape.