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Europe and Petrobras—What Has a Car Wash Wrought?

Tom Fox | November 4, 2015

The scope of the Petrobras corruption scandal is literally worldwide. It has touched every continent save Antarctica to-date, and who knows when it will reach those icy  shores? For the European chief compliance officer or compliance practitioner whose company does business in Brazil, now is the time to get out ahead of the scandal.

At this point Rolls-Royce has become embroiled in what was dubbed Operation Car Wash because the investigation into corruption in the Brazilian national energy company literally started with a car wash. As reported in the Financial Times, the U.K. company, which is currently under investigation by the U.K. Serious Fraud Office around bribery allegations in Asia, has been “named in Brazilian documents early this year for allegedly paying bribes to secure a $100M contract for equipment for Petrobras oil rigs. A Petrobras official...

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