Essay On Foreign Corrupt Practices Act

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The Foreign Corrupt Practices Act (FCPA) was enacted in 1977 to control widespread bribery of foreign officials. Foreign officials are being bribed by United States companies to win business with them.
The Foreign Corrupt Practices Act is enforced by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). The Department of Justice has a special unit call FCPPA that is within the Criminal Division’s Fraud Section. They have criminal enforcement authority of the business issuing the bribery. They also have criminal and civil enforcement that has power over domestic issues for the Foreign Corrupt Practices Act anti-bribery department. The Department of Justice also has a website that’s just for the Foreign Corrupt
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So, if that new developing country allowed bribery for better business, they would do so without consequences for doing so. Then in 1977, the United States Congress passed the Foreign Corrupt Practices Act and this now prohibited the United States business people from being a to bribe to achieve better business. The Foreign Corrupt Practices Act is divided between two main categories, the first one is the anti-bribery department and the second one is the accounting department.
The anti-bribery officials apply to all United States companies and all their officers, directors, employees, shareholders, and agents. This part of the Foreign Corrupt Practices Act prohibits any type of bribery to government officials of other countries to get a better business contract. The anti-bribery provision makes it against the law to offer, pay, promise of pay, or any type of authorized payment of money. This also includes offering, giving, or promising anything of value to a foreign official in order to speed up the process. On the other hand, the Anti-bribery allows payments to be made to minor officials with minor duties. These are the people that have little to do with the routine activates. They usually handle processing paperwork or something that’s minor. They consider this a facilitating payment, this helps speed up the administration activity that otherwise takes a long time. This also
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