Along with spectacular economic growth and a rise in global prominence, the past two decades have seen a mounting demand for transparency and anti-corruption measures in Brazil. This demand has, in recent months, culminated in the implementation and nascent enforcement of significant new anti-corruption policies. Every day, it seems, brings new developments in Brazil’s anticorruption efforts, reaching into the highest levels of the nation’s political and business establishment.
As with many high-profile anti-corruption campaigns, when one country ramps up enforcement efforts, other nations will soon follow with their own investigations. As these events unfold, the subjects of Brazilian anti-corruption efforts, including companies, executives, government officials, and their domestic and foreign associates, find themselves continuously assessing the extent to which Brazil is cooperating with foreign authorities, naturally implicating cross-border asset-seizure and forfeiture issues. The mechanics of cross-border cooperation are far from straightforward; assets that may be fair game under Brazilian laws may be protected under the laws of other countries. As a result, Brazilians who hold assets in foreign jurisdictions and are being targeted under these enforcement efforts will face a multitude of sometimes conflicting asset seizure and forfeiture laws, particularly from states with heavy foreign investment from Brazil, such as the Cayman Islands, Bahamas and the United States.
History of the Movement
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