BRAZIL'S LANDMARK ANTI-CORRUPTION LAW

Latin America has constantly battled with corruption, especially corruption in transactions with public officials. But, within the last two decades, Brazil has taken a firm stance against corruption by passing new laws aimed at combating corruption in business transactions. Brazil just passed a monumental anti-corruption law, the Brazilian (Clean Companies Act (BCCA), enacted on Aug 1, 2013, which now makes companies and individuals liable for bribing public officials. The law is the first of its kind in Latin America and has been likened to the US Foreign Corrupt Practices Act and the UK Bribery Act, although it actually imposes more severe penalties than either its US or UK counterparts. The law represents a new anti-corruption precedent in Latin America that will expectantly change perceptions concerning corruption in business transactions in Brazil and should severely curtail corruption if effectively enforced.