FCPAméricas Blog

Anti-Corruption Compliance Interest Grows in Colombia: ACI Holds Second Andean Summit

Author: Matteson Ellis

colombiasummitA key measure of local interest in anti-corruption compliance in Latin America is the level of turnout at local compliance events. In Brazil and Mexico, compliance conferences are now often filled to capacity. If American Conference Institute’s continued investment in Colombia is any indication, that country and surrounding Andean countries are also poised to experience the same type of expansion in compliance know-how that Brazil and Mexico have experienced.

In fact, in the 2016 Latin America Corruption Survey more than 630 respondents throughout the region were asked about their company’s own anti-corruption compliance efforts. Survey responses reveal exceptional growth in anti-corruption compliance efforts in Brazil, Mexico, and Colombia, and more moderate growth in Argentina, Chile, Costa Rica, Ecuador, Peru and Ecuador. Other Latin American markets display much lower levels of attention to anti-corruption compliance. The findings signal the emergence of a diverse array of compliance climates throughout the region.

For Colombia in particular, 100% of respondents working there say their companies have anti-corruption policies, compared with a regional average of 82%. 79% of the companies conduct third-party due diligence, compared with a regional average of 59%. 86% have anti-corruption contract terms, compared with a regional average of 66%. 83% have anonymous reporting mechanisms, compared with a regional average of 51%. And 62% have full-time compliance personnel, compared with a regional average of 48%.

It is likely that Colombia’s new foreign bribery law, which lists anti-corruption compliance as a specific mitigating factor in penalty calculation, will have an effect on continued interest in compliance in the country.

One can expect this interest to be on display next month at ACI’s 2nd Andean Summit on Anti-Corruption Compliance & Enforcement in Bogota (FCPAméricas is honored to be a media partner of the event). A representative from the FBI will be speaking, as will the former Deputy Chief of the DOJ’s FCPA Unit. ACI has pulled together an impressive line-up of government speakers from throughout Latin America, including Colombia, Peru, and Ecuador.

If trends lines are any indication, such interest in countries like Colombia will only continue to grow.

The opinions expressed in this post are those of the author in his or her individual capacity, and do not necessarily represent the views of anyone else, including the entities with which the author is affiliated, the author’s employers, other contributors, FCPAméricas, or its advertisers. The information in the FCPAméricas blog is intended for public discussion and educational purposes only. It is not intended to provide legal advice to its readers and does not create an attorney-client relationship. It does not seek to describe or convey the quality of legal services. FCPAméricas encourages readers to seek qualified legal counsel regarding anti-corruption laws or any other legal issue. FCPAméricas gives permission to link, post, distribute, or reference this article for any lawful purpose, provided attribution is made to the author and to FCPAméricas LLC.

© 2016 FCPAméricas, LLC

Matt Ellis

Post authored by Matt Ellis, FCPAméricas Founder & Editor

Categories: Anti-Corruption Compliance, Colombia, English, FCPA, LA Corruption Survey

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