Chile's anti-corruption model raises Latin American standards

In this column, subject matter experts analyze fraud causes and remedies in regions and countries around the globe. — ed.

In 2017, Odebrecht, a Brazilian construction company, admitted to using bribery and corruption to secure more than 100 projects in 12 countries in Latin America, which generated illegal gains of about $3.3 billion. Odebrecht’s corruption reached the highest levels of government: The web of bribes implicated Latin American presidents, senators and officials. Odebrecht agreed to pay $3.5 billion in fines to Brazil, the U.S. and Switzerland — the largest corruption-related fine ever levied on a company. (See This company created the world’s biggest bribery ring, by Patrick Gillespie and Marilia Brocchetto, CNN Money, April 5, 2017, and No One Has Ever Made a Corruption Machine Like This One, by Michael Smith, Sabrina Valle and Blake Schmidt, Bloomberg Businessweek, June 8, 2017.)