Question

In your opinion, is the FCPA an effective deterrent for international bribery and corruption?

Answer 1

The primary purpose of the FCPA is to prohibit the payment of bribes, in any form, to foreign officials in order to secure or retain business.

In addition, the FCPA includes certain requirements with respect to accounting records that are designed, among other things, to prevent concealment of bribes.

The Bribery Act has very wide territorial scope. The general bribery offenses apply to acts of bribery committed anywhere in the world by companies incorporated in the United Kingdom as well as individuals who are British citizens or ordinarily resident in the United Kingdom.

One misperception is that the FCPA applies only to public companies and not to private companies. This is false with regard to the FCPA anti-bribery provisions. Additionally, an FCPA violation can occur where payments are made to non-government third parties acting for or on behalf of any foreign government agency.

Under the FCPA, businesses are accountabile for activities involving both their internal and external relationships. Companies that operate internationally, or that engage third parties in countries with a high Corruption Perceptions Index, are especially at risk. Many companies have now adopted "anti-bribery/anti-corruption" (ABAC) solutions to combat this risk and help protect themselves from fines and reputational damage.

Yes. FCPA is an Effective Deterent for International Bribery and Corruption