The effectiveness of the international anti-corruption legal framework in the context and practice of Colombia

Gloria Perez Torres

Journal of Financial Crime, 2020, vol. 27, issue 2, 437-476

Abstract: Purpose - This study aims to investigate the impact of the enforcement of the international anti-bribery legal framework in developing countries. Design/methodology/approach - It uses the PetroTiger case to examine the effects of foreign bribery prosecutions in Colombia, from a bribe-receivers perspective. PetroTiger is a USA-based company that was prosecuted for bribing public officials in Colombia. As a result, the public officials involved were also prosecuted in Colombia for receiving bribes. This case serves to illustrate how international anti-bribery law operates in practice and how it impacts Colombian law enforcement institutions and their capacity to prosecute bribe-receivers. The Colombian response to the international anti-corruption framework is examined in this study through the review of legislative efforts taken to address the problems of bribery and corruption in public procurement. Findings - This study finds that enforcement of foreign bribery laws raise awareness of the situation of corruption in developing countries, generate parallel prosecutions of individuals at the receiving end of bribes and helps developing countries to develop technical expertise to fight corruption. Practical implications - In practice, due to the transnational nature of foreign bribery, without international agreements, this type of corruption in international business would seldom lead to prosecution. Although the effectiveness of the enforcement of international anti-corruption law is debated, in reality, prosecutions of foreign bribery by developed countries have more positive than negative implications for developing countries. Social implications - Assist to continue efforts to deter corruption. Originality/value - No many studies have looked at the effectiveness of anti-corruption international law in developing countries. As indicated by Mr. Moulette Patrick head of Anti-Corruption Division at organisation for economic co-operation and development more research on the effectiveness of the UN enacted Convention against Corruption, which is what this paper does.

Keywords: Developing countries; AML; Anti-corruption; Anti-bribery; Effectiveness of the enforcement of international anti-corruption law; United Nations convention against corruption (UNCAC) (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-09-2019-0126

DOI: 10.1108/JFC-09-2019-0126

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