A Brief Comparison of the Anti-corruption Laws of Certain Jurisdictions and The Insights for The Developing Ones

Corruption has many forms. In the age of rapid expansion and growth, companies need to deal with the diverse legal provisions of different countries as well as international legal provisions in order to successfully establish a new business or to adapt to the new trends of any jurisdiction. The lack of coherent research has caused a legal vacuum in this regard. As a result, companies are struggling to conduct business in various jurisdictions around the world and are facing a challenge to know the veracious legal provisions of so many jurisdictions. The USA, UK, France, Brazil, and South Korea are some of the big economic powers where companies are keen to expand their business but in doing so, they face complicated legal challenges dealing with corruption. Also, there are countries like Bangladesh with a totally exceptional socioeconomic environment and unique legal structure where the corporations conduct their business. There are also challenges regarding extraterritorial jurisdiction in the case of bribery where some of these countries are capable of adjudicating a company or related third party even if the corruption has occurred outside its territory. There is a difference in case of nature of adjudication as both civil and criminal cases can be administered in case of corruption in a different jurisdiction. Anti-corruption compliance and effective implementation of such could not only be able to defend the company from various adverse legal effects but also it could minimize the cases of corruption within the company profiting it in the long term. Also, before expanding business to a new country or consolidating its existing position, the companies need to take certain measures such as a code of conduct, ensuring a transparent environment, and hiring the right employees and third parties are all recommended for corruption-free growth of a company. By fulfilling all the conditions, a company can effectively expand its business and grow its profits.