09 March 2021
ANNAPOLIS, Md., March 9, 2021 /PRNewswire/ -- TRACE, a globally recognized business association dedicated to anti-bribery, good governance and compliance, today announced the findings of the 2020 Global Enforcement Report, noting that the pace of global transnational anti-bribery enforcement held steady in 2020. The report, TRACE's 11th annual compilation, provides anti-bribery enforcement data from 2020 and summarizes 44 years of anti-bribery enforcement activity.
Although U.S. Foreign Corrupt Practices Act (FCPA) resolutions resulted in a record-setting total dollar amount of fines and penalties in 2020, the number of U.S. enforcement actions dropped 29 percent when compared with 2019. Non-U.S. foreign bribery enforcement actions held steady compared to 2019, and there was a slight increase in investigations by enforcement authorities globally into alleged bribery of domestic officials by foreign companies.
"The fact that more countries are opening more investigations into possible transnational bribery occurring within their own borders is a promising sign that enforcement authorities globally are building investigative capacity and taking anti-corruption seriously," TRACE President Alexandra Wrage said. "We expect that this momentum toward accountability will only increase as a result of the ongoing global health crisis. Enforcement authorities have repeatedly emphasized that the pandemic isn't an excuse for lapses in anti-corruption compliance."
Companies in the extractive industries face the most open investigations and enforcement actions globally again in 2020. Engineering/construction is currently the second-most investigated sector outside of the United States, and financial services is the second-most investigated sector within the United States.
"After a slight downturn under the Trump administration, we expect the Biden administration's Justice Department to prioritize FCPA enforcement and build its pipeline of investigations," Wrage said. "We also anticipate continued collaboration among legal enforcement authorities globally, which will result in more coordinated resolutions."
See TRACE's key findings and read the entire Global Enforcement Report at www.traceinternational.org.
About the Global Enforcement Report
TRACE's Global Enforcement Report provides graphic and textual analyses of all known investigations and enforcement actions involving transnational commercial bribery since the passage of the U.S. Foreign Corrupt Practices Act. The Global Enforcement Report derives its data primarily from the TRACE Compendium, TRACE's database of transnational corruption cases. The analysis covers enforcement events for which information is publicly available, and does not address matters involving only domestic bribery.
TRACE is a globally recognized business association dedicated to anti-bribery, compliance and good governance and leading provider of shared-cost third party risk management solutions. Members and clients include over 500 multinational companies located worldwide. TRACE is headquartered in the United States and registered in Canada, with a presence on five continents. For more information, visit www.TRACEinternational.org.