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Anti-Corruption Compliance Costs and Related Liability Can Be Significant for Businesses Operating in Emerging Markets.

• Regulatory approaches, such as the U.S. Foreign Corrupt Practices Act (FCPA), have had some positive effects on corporate ethics and integrity. However, symposium participants agreed that punitive measures address, at best, only one facet of a much deeper-seated problem.
• Risk and uncertainty can undermine firms in seeking to assess the true cost of doing business in emerging and expeditionary markets. Participants cited the cost of complying with anti-corruption mandates, threats to employee safety and corporate reputation, and related forms of competitive disadvantage as examples of uncertainty and risk.
• Prevention efforts, such as closer collaboration among U.S. firms, U.S. government agencies, and international development banks in establishing broader anti-corruption standards with greater international transparency and accountability, can complement broader efforts to fight corruption in emerging and expeditionary markets.

Participants Identified Several Areas of Risk and Cost for Businesses in Confronting Corruption and in Complying with U.S. Law.

• For example, corruption is often linked to other forms of illicit activity, including human trafficking, drug trafficking, organized crime, and even nuclear proliferation. Participants noted that safety risks can make it difficult to recruit U.S. nationals to work in foreign settings; a greater reliance on local workers and affiliates can increase the risk of noncompliance with anti-corruption legislation.
• Participants were concerned that the cost of compliance with anti-corruption enforcement mandates opens firms to liability risk and may result in an ultimate withdrawal of U.S. business interests in important emerging markets.