The United States Congress passed the “Act” in 1977. This refers to the Foreign Corrupt Practices Act and was created to address, investigate and put and end to the open and widespread problems of corruption and the participation in that corruption be it through acts of bribery, interacting with companies or officials who have been proven participate in terrorist financing, money laundering, and extortion. This was intended to protect the U.S. as well as bring down those within the country and abroad who were involved in such criminal activity.
This law states that it is a federal violation for any citizen involved in business transactions or any United State official to commit bribery in an attempt to secure prospective or continued business with a member of that foreign government. This law extends to all companies that are publicly … Read the rest