What is the Foreign Corrupt Practices Act and its purpose?

Under the Foreign Corrupt Practices Act (FCPA), it is unlawful for a U.S. person or company to offer, pay, or promise to pay money or anything of value to any foreign official for the purpose of obtaining or retaining business.

What are examples of Foreign Corrupt Practices Act violations?

Here are the four most common violations of the Foreign Corrupt Practices Act.

1. You bribed a foreign business to secure a business contract.
2. You bribed a doctor for endorsement.
3. You bribed a foreign politician or official to increase business.
4. Your company’s bookkeeping is questionable.

How to recognize a FCPA violation?

Third-Party Involvement. It’s important to be leery of third parties who can provide support to a new business.

Location Matters. Unfortunately,the area in which business is being conducted does make a difference.

The Fine Print.

Consult with an FCPA Whistleblower Lawyer.

What is FCPA compliance?

FCPA Compliance. secure any improper advantage in order to assist in obtaining or retaining business for or with, or directing business to, any person. Compliance with the requirements of the FCPA is consistent with the expectations of the University Code of Ethics and is specifically required by University policy GOV-003 University Corporate…

What is the government charge card Abuse Prevention Act?

On October 5, 2012, the President signed into law the Government Charge Card Abuse Prevention Act of2012 (Charge Card Act ), Public Law 112-194, which reinforced Administration efforts to prevent waste, fraud, and abuse of Government-wide charge card programs.

What is a FCPA enforcement action?

In 2020, the DOJ and SEC brought FCPA enforcement actions against 12 companies and imposed financial penalties totaling a record $6.4 billion. For a comparison, in 2019, 14 companies paid a (then) record $2.9 billion to resolve FCPA cases. Goldman Sachs paid the largest FCPA penalty – $3.3 billion – in October.