In recent years, international economic transactions have increased both in frequency and amounts in and between the world's various economic blocks. The main factors that have enhanced commercial activity between countries include:

Due to increasing global activity, more stringent regulation and alignment is required in every country that is involved in the economic status quo. The growth and development of commercial transactions between nations requires that the legal framework of the countries involved must consistently suit the incessant operations taking place around the world. Efforts towards avoiding law-infringement in piracy, data protection, international trade, transparency in government procurement and public bidding and foreign investment (among others) as well as with anti-corruption, aim to establish the rule of law and certainty for cross-border investors.

Bribery is one of the most common challenges for foreign investors when they arrive at unknown territories to do business. Bribery is a major threat to commercial activity and economic factors, therefore, stronger anti-bribery measures are required wherever foreign investment is welcomed.

Many countries have now embodied regulations and policies in their legal frameworks in order to ban, limit and sanction undue practices (for example, in the US, the Foreign Corrupt Practices Act; in the UK, the Bribery Act; and in Mexico, the Federal Anti-corruption Law for Government Procurement).

This article gives a general overview of anti-bribery efforts in certain Latin American countries in order to show that despite adverse propaganda in some international fora, Latin American nations have joined the trend to fight corruption and improve their free market conditions. The article gives details of case studies from emerging economies that are seeking anti-corruption measures from and against actors from developed economies.

This article is part of the multi-jurisdictional guide to corporate crime, fraud and investigations law. For a full list of jurisdictional Q&As visit www.practicallaw.com/corporatecrime-mjg.