Congress enacted the Foreign Corrupt Practices Act of 1977 (“FCPA”) largely in response to disclosures in the early 1970s of widespread bribery of foreign officials by United States business interests. Congress resolved to prohibit such bribery, not just because it is morally and economically suspect, but also because it was causing foreign policy problems for the United States. In particular, these concerns arose from revelations that U.S. defense contractors and oil companies had made large payments to high government officials in Japan, the Netherlands, and Italy. Congress also discovered that more than 400 corporations in the United States had made questionable or illegal payments in excess of $300 million to foreign officials for a wide range of favorable actions on behalf of the companies. The principal focus of the FCPA, as amended, is its sweeping prohibition against foreign bribery. Image source: bakerhughesdirect.com. > Continue.
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