Corruption is a constant concern in the society and occurs in all civilizations; however, it has only been in the past 20 years that this phenomenon has begun being seriously explored. It has many different shapes as well as many various effects, both on the economy and the society at large. As the world’s economy becomes increasingly integrated, investigators, regulators and prosecutors from different jurisdictions have become stricter in their preventive and enforcement measures. In Tanzania, to curb the situation the Prevention and Combating of Corruption Act, 2007 together with Anti-Money Laundering Act, 2006 were enacted.
Companies together with other business associations need to be aggressive and cooperative in investigating and enforcing the Anti-Corruption and Anti-Bribery laws related to economic crimes. It should be noted that companies as well as the directors must understand laws from other jurisdictions whose enforcements and prosecution are so strong.
Cymbell Attorneys has established an Anti-Corruption and Anti-Bribery unit that provides invaluable service to its corporate clients. Our team is well equipped in providing compliance advisories as well as excellent strategic advice, meant to prevent exposure to adverse actions. We regularly act for corporates subject to investigation and prosecution; some of which involve assisting in engaging with investigative bodies. We also help corporates to deal with internal investigation relating to bribery and corrupt practices as well as managing the relationship with enforcement agencies. In assisting our Clients comply with the Anticorruption legislations, we also advise on preventative issues relating to drafting and review of apt Anti-corruption and Anti-bribery Policies, self-reporting, compliance checks; conducting gaps analysis as well as legal and compliance audits.