GDPR – an unintended obstacle to anti-bribery laws?
Significant opportunity for Ireland to attract FDI, while strengthening anti-bribery protection
Almost one year on from GDPR, its impact has been felt across a wide range of sectors. One area in which the GDPR has presented significant (and arguably unintended) challenges is that of anti-bribery and anti-corruption due diligence. Almost all multinational companies are exposed to anti-bribery laws, violation of which could result in significant fines or prison terms for senior executives. However, GDPR’s prohibition on the processing of personal data relating to criminal convictions and offences without an express legislative basis poses a major obstacle for companies undertaking due diligence on current and prospective intermediaries in their supply chains and sales channels. If this issue is not resolved in the short term, it could be a significant deterrent for multinationals considering the location of their main establishment within the EU, entering into a particular market or participating in a particular transaction.
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