Page 22 - CORRUPTION LATAM

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ChiLE
proMinent in tHe reGion in coMpLiance
WhiLe the business community enthusiasticaLLy embraces compLiance thanks to the issuance of LegaL reguLations, corruption, crime and criminaLity increase in the country. after many years of being an exampLe in the region, today organizations such as transparency internationaL consider chiLe as a country in decLine that must be “Watched” carefuLLy.
Chile was one of the pioneer countries in Latin America to introduce the Criminal Liability of Legal Entities into its legal system, when on December 2, 2009, Law No 20,393 was published relating to this issue in connection with money laundering crimes, financing of terrorism and bribery of public officials, national or foreign. Subsequent to this norm, which was created for Chile to be admitted as a member of the Organization for Economic Cooperation and Development (Oecd), it was complemented with several other legal bodies, in addition to a lot of administrative regulation, mainly on the part of the Unit of Financial Analysis.
What the country is exhibiting today, the interest in compliance and other crime prevention figures, is the result of the effort made in recent years thanks to the regulations and the decision of the private sector to assume and respect them, to the point that today around 98 percent of large companies have a prevention program where the
focus of the models is 93 percent criminal; free competition by 67 percent; consumer protection, 31 percent; data protection, 31 percent and environment, 24 percent.
This, according to the study “Compliance in Chilean Companies, Knowing the Situation of Compliance in the Chilean Business Market” carried out by the Center for Regulatory and Business Law of the Universidad del Desarrollo.
private Sector enthusiasm
According to the academic report, 74 percent of national companies submitted their crime prevention scheme to certification, while almost all productive entities have formal internal reporting procedures for incidents of non-compliance.
This progress contrasts with the events that are occurring regarding widespread corruption, since, in the opinion of Transparency International, in recent years there has been a dangerous
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