Federal prosecutors filed new corruption charges on Monday against Brazil’s former president, Luiz Inácio Lula da Silva, raising pressure on him and his family over dealings in Angola, the oil-rich country where Brazilian companies have aggressively raised their profile over the last decade.The charges are the latest blow to Mr. da Silva, 70, who has been one of Latin America’s most influential politicians.
Corruption represents a constraint to business in Brazil.Corruption is especially likely in the tax administration, public procurement and natural resource sectors.A recent large-scale corruption scandal holds the state-run oil company Petrobras at the center.The Clean Companies Act is one of the toughest anti-corruption laws in the world, but its enforcement is inconsistent. Under the Act, bid rigging and fraud in public procurement, direct and indirect acts of bribery, and attempted bribery of Brazilian public officials and of foreign public officials are illegal. The Act holds companies responsible for the corrupt acts of their employees and introduces strict liability for those offences, meaning a company can be liable without finding of fault. Brazilian law makes no distinction for facilitation payments, meaning companies could be at risk for engaging in such practices. Giving gifts is illegal and not necessary when doing business and establishing relationships. Businesses are advised to consider the Portal’s compliance guide for Brazilian laws.
Wed Oct 12: Corruption in Brazil, Putin, Venezuela, Cuba & the US election in weeks....click to listen.... https://t.co/XTW16Yb1ct— Silvio Canto, Jr. (@SCantojr) October 12, 2016
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