With myriad critical issues vying for the attention and resources of legal departments during the current economic crisis, antitrust compliance may not be at the top of the in-house counsel priority list. But companies in markets susceptible to cartels may want to take a moment to consider the magnitude of these risks. Recessions often bring a heightened temptation on the part of businesspeople to engage in cartel behavior. This fact, along with the ever-increasing risk of detection by energized and global anti-cartel enforcers, can create a perfect storm of criminal antitrust risk.
Because the penalties for cartels include fines that could cripple even reasonably healthy corporations (as well as jail time for executives), cartel violations in the present climate can result in economic disaster for vulnerable companies. Reducing or deferring compliance efforts, antitrust audits and investigations of potentially questionable behavior may thus come at a very high price indeed.
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