U.S. Businesses Seek Amendments to Anti-Foreign Bribery Law
United States’ businesses are asking Congress to amend the 1970s-era Foreign Corrupt Practices Act, asking for additional defense charges against those accused of bribing foreign government officials in exchange for business.
Business groups on Tuesday reignited the campaign after multiple unsuccessful attempts to lobbying Congress in the past. Businesses want additional safeguards “by which companies would escape criminal liability for the misconduct of individual employees if they already have strong safeguards and internal compliance systems in place.”
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In the past couple of years, U.S. authorities have began strictly enforcing the FCPA, costing companies like Walmart and Avon Products millions of dollars in internal investigations, and extracting millions from other companies in fines.
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Related texts: Foreign Corrupt Practices Act and Thailand Film Festival
Flickr photo courtesy of meiling_bedard
