The cartel fine figures for 2023 reflect modest to flat overall growth in enforcement as compared to the last two years. These figures, however, still pale in comparison to the annual fine totals posted by authorities up until several years ago, when the U.S., EU and other stalwart enforcers regularly boasted annual fine figures totaling in the billions. Headwinds caused by dockets consisting largely of domestic and arguably novel cartel cases appear to be a primary driver of the continued lull in the fine figures. But there is reason to believe the winds may be changing for 2024, with enforcers demonstrating a renewed focus on pursuing international cartels and more traditional, hard-core cartel conduct.
The report was highlighted by publications including The Wall Street Journal and Global Competition Review.
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Trends to Watch for in 2024
A Return to International Cartel Enforcement
In 2023, we saw a glimpse of global cartel enforcers returning their focus to international cartel cases and we expect that focus to sharpen in 2024.
Prioritizing Government Procurement Frauds
Enforcers around the world are focused on sniffing out activity that costs taxpayers money by harming public procurement processes–both within their borders and abroad—and competition authorities are teaming with other government agencies in this effort.
Competitive Benchmarking / Information Sharing as a Catalyst for Enforcement
Enforcers have cautioned that once-accepted competitive benchmarking and industry information sharing techniques may now serve as a catalyst for cartel inquiries.
Aggressive Use of the Tools in the Investigative Tool Kit
While the pandemic years hampered in-person efforts, agencies have evidenced a renewed vigor post-pandemic in using aggressive enforcement techniques.