Essay on The Anti Bribery Section Of The Fcpa

Essay on The Anti Bribery Section Of The Fcpa

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Before 1977 the business world was filled with corruption and bribery. That was until the United States Congress made the Foreign Corrupt Policy Act or better known as the FCPA. This act tries to puts an end to any sort of corruption due to bribery of a foreign official by Americans businesses, citizens, or business partners. Meaning any American working overseas is under the regulations of this act. As well as anyone working on behalf of an American based company. It even means any international busines that is currently working in the United States has to be mindful of its actions because it also is covered by the FCPA.. This Act has three main components first off is the anti bribery section of the FCPA. Then it is followed by the books and records section, where it explains the rules needed for keeping appropriate records of the company. Lastly is the section of the FCPA where it describes what could happen to you if you don’t comply with this FCPA. In essence the punishment part of the act. The FCPA is an important part of American business and should always be enforced in all companies. Even though the FCPA could be hard to work with when trying to do overseas business it’s not impossible and can be done efficiently. The FCPA is and has been a corner stone for many countries on how it should conduct its overseas business.
The anti bribery section of the FCPA contains four key factors each one needing to be done to be in violation of the FCPA. The first being the “offering, promising, paying, anything of value”. This means that to violate the first section of the anti bribery section of the FCPA you can do anything from sampling mentioning a bribe to having it in on some sort of official document. This section covers the act...

... middle of paper ... this into play many other countries all over the world have implemented rules/laws similar to the FCPA. Some variations of the law are more lax and other being more restricting. By operating in only these countries you lower the companies risk in dealing with bribery or corruption in general. As well as forcing the governments who do not have these sorts of laws in place to try and change. Or risk losing more and more business.
The Foreign Corrupt Practice Act has had its fair share of negative press since it was first put into place, but the overall good it does outweighs the bad. It helps protect a fair yet competitive business environment as well as maintain the integrity of all sorts of American business. Although it might make it harder for American businesses to do business overseas it helps insure that any business that is done is done properly and fairly.

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