BLP collaborates in the Latin America Corruption Survey 2024

BLP, a leading law firm in Central America, is proud to announce its collaboration on the Latin America Corruption Survey 2024, focusing on reports from El Salvador and Costa Rica. This groundbreaking survey, conducted in association with Miller & Chevalier Chartered and 14 collaborating law firms in Latin America, sheds light on the widespread problem of corruption in the region and emphasizes the crucial role of corporate compliance.

Despite concerted efforts to combat corruption through legislative changes, the survey reveals that corruption remains a major obstacle to doing business in Latin America. However, the data underscores that corporate compliance, rather than mere law enforcement is the linchpin in addressing this endemic problem.

"BLP is proud to have played a key role in this important survey, emphasizing the pressing need for strong compliance measures in the ongoing battle against corruption," commented Juan Carlos Tristán, BLP partner and leader of the firm’s Ethics & Anti-Corruption practice.

"Our collaboration on this report, particularly in the Central American region, where we maintain a substantial presence, underscores the paramount importance of prioritizing corporate compliance to effectively address the challenges presented by corruption. In a region with a long history of fighting corruption, these latest findings illuminate ways for stakeholders to join forces in the head-on fight against corruption," he added.

The report shows how effective compliance programs can mitigate corruption risks within organizations. By implementing robust compliance programs, companies can protect themselves against corruption and misconduct and ultimately foster a more transparent and conducive business environment.

As the survey results indicate, the corruption landscape in Latin America is complex and multifaceted. However, with concerted efforts and a commitment to corporate integrity, companies can pave the way for sustainable growth and ethical business practices in the region.

BLP remains dedicated to promoting corporate compliance standards in Central America, and looks forward to continuing to collaborate with our clients to drive positive change.

Read the full report here.

BLPLegal.com
 

More about the survey (MillerChevallier.com)

Corruption remains pervasive throughout Latin America despite sustained efforts to criminalize, investigate, and prosecute misconduct, according to new survey data. In fact, corporate compliance – not enforcement – is the key driver for addressing these endemic issues. The 2024 Latin America Corruption Survey, released April 2, 2024, by Miller & Chevalier Chartered and 14 collaborating law firms in Latin America, measures perspectives on how corruption impacts companies’ ability to do business in the region.

The report, which builds on previous surveys dating back to 2008, reveals that nearly half of all respondents view corruption as a significant obstacle to doing business – and less than a third say the U.S. Foreign Corrupt Practices Act (FCPA) or other anti-corruption laws significantly mitigate corruption risk.