At the beginning of this month, I did a blog entry on how foreign companies are now getting caught out in the increase in Foreign Corrupt Practices Act enforcement actions brought by the Department of Justice and the Securities and Exchange Commission. Put simply, any foreign company is liable under the FCPA if it has a US listing, or if it as US headquarters or operations, or uses the US banking system. The trouble is a lot of companies don't seem to realize it.

Now it's dawned on automaker Daimler. It has stunned everyone with its announcement that it has established the position of Chief Compliance Officer.

Obviously, it's a move designed to clean up its act. Two years ago, Daimler was at the center of a storm over charges that it had used secret bank accounts to bribe government officials. Heads rolled but the scandal seemed to go nowhere. The Securities and Exchange Commission inquiry started when a former Chrysler accountant in Detroit alleged in a lawsuit last year that the company kept dozens of these bank accounts to sling the cash. The company's chief executive fell on his sword and another executive suicided. More on that here.

So Daimler finally realizes it needed to clean up its act. It might have taken two years but better late than never.

But it does go to show that foreign bribery allegations are going to become more of a problem for companies right around the world. There are now fewer places to hide.