Brazil: Law clamps down on bribes

[Judi Lynn]

Brazil: Law clamps down on bribes
August 5 2013 at 08:00am
Brazil

Law clamps down on bribes

Bribing a public official in Brazil could become a very onerous mistake for businesses under a law enacted on Friday that for the first time makes companies liable for bribes paid by employees. Companies found guilty of bribery will face fines of up to 20 percent of gross annual revenue for the previous year or a maximum of 60 million reais (R256m). They could also be suspended from operating, have assets confiscated and even face possible dissolution. Brazil’s congress passed the law in record time in the wake of sweeping protests that shook the country in June. – Reuters

http://www.iol.co.za/business/international/brazil-law-clamps-down-on-bribes-1.1557415#.Uf9-1uoo7_Q

(Short article, no more at link.)

[ocpagu]

1. A much welcomed law.

The "fight" against corruption in Latin America has for a long time ignored the rule of corruptors while only keeping the focus on the corrupted politicians. A big mistake. It takes two to tango, after all, doesn't it?

Thanks for sharing, Judi.