Suddenly anti-corruption enforcement seems to be a serious effort in Brazil—to the point that businesses working there might want to pay more heed to enforcement risks from Brazilian regulators themselves, plus the usual scrutiny from U.S. regulators policing against corruption in emerging markets.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...