A fresh start

Author: | Published: 24 Aug 2017

Brazil wants to change, but an overhaul of its business culture can’t be done in one day

A common misconception about Brazil is that it didn't have anti-corruption laws until January 2014, when the so-called Clean Company Act (CCA) came into effect. While it's true that the three-year old law introduced a corporate civil and administrative framework to the country's legal system for the first time, Brazil's Criminal Code actually included an individual crime of corruption, which was applied as far back as the 1940s.

The fact that some of Brazil's largest corporates have been embroiled in a series of bribery scandals over the past few years is well-publicised, with each revelation a new episode in the country's ongoing fight against corruption. High-profile investigations involving national and international names like Petrobras, Odebrecht, OAS, Siemens, Alstom and JBS have led to the arrest of multiple politicians globally, billions of dollars...