With the media reporting on corruption scandals in Latin America on an all-too-often basis, the region has a reputation for being a high-risk compliance environment for anti-bribery and anti-corruption. While Brazil is unfortunately well known for corruption at the highest levels of its government, the largess of its national oil company, Petrobras, and the upcoming huge construction projects to enable it to host the 2014 World Cup and 2016 Olympics Games; other countries in the region present serious anti-corruption and anti-bribery risks when engaging in business in those regions.

Recently two US law firms Miller & Chevalier Chartered (Miller & Chevalier) and Matteson Ellis Law joined with 12 Latin American law firms in surveying 439 respondents scattered across 14 countries in Latin America to gauge the extent of corruption in countries throughout the region; the effects of corruption on companies operating in those countries; perceptions of the effectiveness of regional anti-corruption laws; and the tools that companies are using to address corruption risks. The risks inquired about in this survey are covered under both the US Foreign Corrupt Practices Act (FCPA) and UK Bribery Act.