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The Foreign Corrupt Practices Act of 1977 (FCPA) (15 U.S.C. § 78dd-1, et seq.) is a United States federal law that prohibits U.S. citizens and entities from bribing foreign government officials to benefit their business interests.
Within the United States federal legislation, a facilitating payment or grease payment, as defined by the Foreign Corrupt Practices Act (FCPA) of 1977 and clarified in its 1988 amendments, is a payment to a foreign official, political party or party official for "routine governmental action", such as processing papers, issuing permits, and ...
According to the US Department of Justice, the term "foreign official" is defined as: . any officer or employee of a foreign government or any department, agency, or instrumentality thereof, or of a public international organization, or any person acting in an official capacity for or on behalf of any such government or department, agency, or instrumentality, or for or on behalf of any such ...
In 1977, when the FCPA became law, the goal was to bring integrity back to business by stopping the bribery of foreign officials. In keeping with that tradition, the recent increase in FCPA ...
One expert noted that FEPA is "probably the most important U.S. anti-bribery effort since the FCPA itself became law. The law amends the federal domestic bribery statute to add a new subsection punishing foreign government officials for demanding or receiving a bribe. The law is quite specific in that it is intended to be extraterritorial in ...
The Foreign Corrupt Practices Act, 15 U.S.C. § 78dd-1, criminalizes the corrupt offer, by mail or in commerce, of anything of value from a publicly traded company to a foreign official for an official act to do business. [53]
A forerunner definition was by the 1997 OECD Anti-Bribery Convention aimed at reducing corruption, which came into force February 1999; it used the term foreign official. The designation "politically exposed person" dates back to the late 1990s, in what was known as the "Abacha Affair."
Foreign leaders are also hedging their bets with the circle of aides and advisers around Trump, working through official and unofficial channels to arrange their meetings — when heads of state ...