International corruption has been estimated to cost a massive $3.6 trillion annually in the form of bribes and stolen money, amounting to over 5% of global GDP. It has been listed by the United Nations as one of the biggest impediments to achieving its 2030 Sustainable Development Goals, and governments worldwide have criminalised corruption in an effort to stem the losses.
Rajah & Tann Asia's member firms and regional desks hail from the jurisdictions of Cambodia, China, Indonesia, Japan, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. This Publication brings together our lawyers from the above jurisdictions to answer the following questions on anti-corruption efforts:
- What is the principal anti-corruption legislation in your country?
- Who is the authority in charge?
- Does the principal legislation have extra-territorial effect?
- Is there a different threshold in bribery offences in the public and private sector?
- Is there a duty to report bribery offences?
- What are the key offences under the principal legislation?
- What are the penalties for the key offences?
- Are there defences to the key offences?
- If a body corporate commits an offence under the principal anti-corruption legislation, would the officers of the body corporate be liable?
- Are Deferred Prosecution Agreements an option in your country?
- Are there any other key anti-corruption initiatives in your country?
- What is the enforcement trend of anti-corruption laws in your country?
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.