Research by leading international law firm Freshfields Bruckhaus Deringer has revealed that, one year after the implementation of the UK Bribery Act, 19 countries either have, or are in the process of, amending their anti-bribery laws.  Seven of the countries are amongst the largest trading partners for the UK, highlighting an increasingly complex international trading landscape for firms trying to adhere to anti-bribery laws across the globe.  

These changes sit on top of the pre-existing Bribery Act exposure, increasing, depending on the local enforcement environment, the local risk for international businesses.  They show the increasing alignment of anti-corruption laws around the world. 

Within the UK’s main trading bloc, the EU, five countries have or, are, currently amending their bribery laws: the Czech Republic, Ireland, Luxembourg, Romania and Sweden.  The EU accounts for more than half of the UK’s entire export market. Australia, Brazil, Mexico, India and Russia are also either amending, or are considering amending their statutes.  Zambia is the only African country cited.   

Both Africa and South America are important developing markets for the UK.  The African continental economy grew by 5% last year.  £952m of goods and services headed to Mexico, and Brazil, a BRIC nation, was worth £5.4bn of exports from the UK in 2011[1] .  Other BRIC countries that are taking steps to toughen anti-bribery laws are Russia and India.  Exports to India were up 45% in 2011 to £4.6bn (from £3.17bn in 2010) and they are expected to increase to a value of £24bn by 2015.  Russia is the UK's fastest growing major export market – with 2011 exports up 39% on 2010, at £4.78bn [2] .  

Raj Parker, Partner at Freshfields, commented, ‘Keeping track of moves to deal with bribery around the world is creating a minefield for businesses.  Differences between countries’ laws vary enormously. One year on from the introduction of the Bribery Act in the UK and much has been made of the lack of a ‘big ticket’ prosecution by the SFO.  However, companies should not be complacent about their anti-bribery measures – especially when trading with our major export markets. 

‘The volume of criminal regulation which firms have to be aware of is increasing at unprecedented rates.  Given the massive investment and trading opportunities these countries represent to the UK, keeping an eye on how anti-bribery laws are shaping up and are being enforced on an international basis is essential.’ 

To help firms keep up to date on developments in international markets Freshfields  has developed Bribery Watch, which provides a summary and comparison of anti-bribery and corruption laws and enforcement activity across 100 countries. www.freshfields-briberywatch.com