Foreign Corrupt Practices Act (FCPA)

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The Foreign Corrupt Practices Act (FCPA) of 1977 makes it illegal for a company to offer payments to foreign officials for the purpose of obtaining or retaining business, to fail to keep accurate records of transactions or to fail to maintain effective controls to detect potential violations of the FCPA. In recent years, the number of prosecutions of the FCPA by the Department of Justice and SEC has increased significantly. The SEC and the Department of Justice (open in new window) are jointly responsible for enforcing the FCPA.

Links

U.S. Department of Justice: Foreign Corrupt Practices Act