Client Advisory: Corporations Beware: EU Anti-Corruption Report Outlines Red Flags & Marching Orders for Member States
Originally scheduled for last summer, the European Commission’s Directorate-General for Home Affairs recently released the first Anti-Corruption Report, noting wide variation in the presence and prevention of corruption. The report found that in one year alone, corruption accounts for nearly €120 billion in losses, which is just shy of the entire annual budget for the European Union (EU). Although the report does not offer specific recommendations, it cites exemplary corruption agencies, laws and enforcement practices. These gold standards will likely guide the development of anti-corruption campaigns in member states. Corporations should pay close attention to these clues of what to expect from regulators and law enforcement.
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