Looking at the corruption prosecutions in Brazil, it may easy to be discouraged about the chances of operating a business compliantly there.
But, that would be a mistake. Pyter Stradioto, Latin America Legal, Compliance and Government Relations Director for Samsung sees this as an asset. According to Pyter, prosecutions in Brazil have demonstrated that the institutions are growing stronger, which is a positive development for the business community. There is now a wave, Pyter reports, demanding a better business environment, particularly in the corruption arena.
As a result, companies are in the midst of a massive investment in compliance and ethics programs. Business is recognizing that it needs a better risk management approach, and that includes areas other than anti-corruption. Brazil, for example, is very aggressive in enforcement of labor, environmental, and consumer law (especially data protection and privacy).
Listen in for a frontline view from an experienced compliance officer in Brazil.