What are the recent trends in investigations and enforcement in your jurisdiction?
Bribery & Corruption
The most recent trend of investigations and enforcement can be traced back to announcement of demonetization of certain currency notes by the Government for fighting the menace of black money, tax evasion and illicit / counterfeit currency. This was followed by the enactment of the Finance Act, 2017 which amended certain provisions of the Prevention of Money Laundering Act and brought in stringent checks and balances to curb corruption.
In the past recent years the enforcement of the legal framework relating to the fight against corruption has been increasing.
A more thorough approach from the government and a greater effort to comply from the organisations has led to an improvement of the paradigm.
Recent years have been marked by a string of high-profile cases that have involved prominent individuals such as a former Prime-Minister, a former Minister of the Interior, an Appellate Court Judge and several bankers.
However, according to statistics from the General Department of Justice Policy, the number of people accused and condemned for corruption has been falling since 2010, with only 45 accused and 25 convicted in 2015 from 176 accused and 78 condemned from 2010.