The most compelling message from the conference however was that Australia’s corruption laws are sadly inadequate and the U.S. is therefore poised to reap billions of dollars in penalties and settlements at our expense.
According to Piper Alderman partner Ted Williams, It only takes one email through a U.S. server, or one capital raising on a U.S. bond market, to put an Australian company in the cross-hairs of the U.S. Department of Justice. That pretty much encompasses most of Australia’s largest companies. We are not talking potentialities either.
via Australia’s lax foreign bribery laws sees U.S. clean up on corporate penalties — Independent Australia
