The cons to the argument for saying the Foreign Corrupt Practices Act is obsolete is discussed in the article With Wal-Mart Claims, Greater Attention on a Law by Charlie Savage. In this article Charlie Savage argues that the FCPA has always been a useful tool in stopping corruption but in recent years with companies becoming more globalized other countries gradually adopted similar laws, the United States has started to enforce it more strictly. The dollar amount of fines imposed by the Justice Department and the Securities and Exchange Commission has increased even more, including a record-setting $800 million paid by Siemens in 2008. Enforcement under the act has soared, from just two enforcement actions in 2004 to 48 in 2010. There are currently at least 100 open investigations, specialists estimate.
Wal-Mart is seen as a global company, but it wasn’t until 1991 that Wal-Mart opens its fir...
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...ff. By the end of 2014 Wal-Mart will have appointed 10 market-level Chief compliance officer in its International division to build and lead the compliance teams in the company’s retail markets around the world. This effort is critical for promoting the long-term sustainability and capability of the company’s anti-corruption compliance team.
Anti-corruption remains a key focus for compliance training in all markets. Walmart’s anti-corruption training is designed to develop awareness and understanding of the relevant code of ethics for associates and agents who interact directly or indirectly with government officials on the company’s behalf. In recent years, Wal-Mart has trained more than 100,000 attendees from all levels of the company from around the world, including key senior executives and officers who interact directly or indirectly with government officials.
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