U.S. and U.K. authorities have stepped up enforcement of bribery in foreign business dealings, which may herald a longer-term shift in how foreign companies operate in the Gulf, lawyers say.

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Please note: The author is the president of TRACE International, a non-profit business association dedicated to anti-bribery compliance.

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If the allegations are correct, it used systematic bribery as part of its business strategy as a way to grow.

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It explored a number of initiatives, and in 1997 helped launch the Organisation for Economic Co-operation and Development's (OECD) Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

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Speculation about the future of the business empire of Hong Kong billionaire Joseph Lau is building after it was disclosed on Wednesday that he will face bribery and money-laundering charges in Macau.

FORBES: Speculation Builds About Hong Kong Billionaire Joseph Lau's Empire After Bribery Case Set