Fighting corruption has been a rising global agenda item for almost three decades. Many modern jurisdictions have adopted various instruments to join the anti-corruption frontier. The U.S. passed the Foreign Corrupt Practices Act (FCPA) in 1977; in the UK, the Bribery Act was passed in 2010 and reforms have recently been made in other countries, including Russia, Spain and China.
As a developing country, Turkey is following in the footsteps of its international counter parts and is in the process of improving its position in the prevention of corruption from both a legislative and enforcement perspective. Turkish laws are applicable to both multinational companies doing business in Turkey and national companies.
The major legislative source dealing with corruption issues is the Turkish Criminal Code No. 5237, which basically have a traditional approach to bribery and other corruptive acts. Besides, Turkey has in the last decade ratified a number of largely recognized international treaties, which requires further legislative efforts to raise the bar than what is sought under its current legislation. Furthermore, multinational companies operating in Turkey closely adhere to issues related to the U.S. Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act.
In a heightened regulatory climate, companies must identify high-risk activities while concentrating compliance efforts on mitigating potential violations of the law. Clear guidance in terms of compliance is a crucial part of doing business and avoiding pitfalls and penalties.
Moroğlu Arseven has the expertise and experience to guide clients through every phase. This includes preventative training, diagnostic audits and defence. We represent foreign-based multinationals and large Turkish companies across a broad spectrum of industries. This often involves preparing training programs, drafting policies and procedures and conducting necessary due diligence required to identify risks related to bribery, fraud and corruption.
We advise companies, managers and boards of directors and implement solutions to mitigate risks. All relevant issues under UK and U.S. laws, including voluntary disclosure, disciplinary and remedial measures and local laws under the Turkish Criminal Code are involved as part of our services.