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Matteson Ellis Comments on Colombia's Local Anti-Corruption Efforts in Latinvex

"Colombia Corruption: After Progress, Fresh Doubts"


Matteson Ellis discussed Colombia facing uncertainty due to a new administration led by President Gustavo Petro, even after making noticeable progress in anti-corruption efforts last year. "The Petro Administration in Colombia is less committed to corruption and bribery enforcement," Ellis said, adding that "[i]n the face of quickly changing sector-focused policies…international companies face growing uncertainty associated with business on the ground. These are the conditions that can generate corruption risk as businesses struggle to survive." In terms of the U.S. Foreign Corrupt Practices Act (FCPA) outlook for other countries in Latin America, Ellis noted that "[w]ith exception of Glencore in Venezuela and Stericycle in Argentina, no FCPA case in 2022 involved Latin American countries with smaller economies – like Peru, Colombia, Chile, or Ecuador. But numerous individual prosecutions for FCPA-related conduct have touched these markets… We continue to expect 'non-major' countries of the region to give rise to FCPA cases in the future, and possibly as soon as 2023."