Exactly 20 years ago, the dawn raids at Siemens marked the beginning of a new era in global anti-corruption enforcement. We got accustomed to internal investigations, cooperation with and among law enforcement agencies, record-breaking settlements, and the emergence of a “brave new world” of corporate compliance.

Over the past two decades, this shift has profoundly changed the work – and the size- of law enforcement agencies, white-collar crime departments in law firms, and legal and compliance functions within companies. New standards and legislation on corporate responsibility, along with a growing recognition of the value of compliance management systems, have developed across many jurisdictions. On the international anti-corruption enforcement front, actors such as the World Bank have entered the stage alongside national prosecutors. After 20 years of steadily increasing attention, the shifting focus of FCPA enforcement has sent shockwaves through the community. Is the era of international anti-corruption enforcement coming to an end, or will others step in? In times of volatility and geopolitical shifts, we should refocus on core principles. The fight against corruption is a fundamental element of good governance in both the public and private sectors. And we should all remember: in a period of massive investment in technology, defense, and infrastructure, we will be judged in the years to come on whether we stayed the course and did what is right.