Foreign Corrupt Practices Act

The Foreign Corrupt Practices Act (FCPA) is a U.S. law that prohibits companies and individuals from bribing foreign officials to gain or retain business. It aims to promote fair competition and ethical practices in international trade. The act requires companies to maintain accurate financial records and establish internal controls to prevent corruption. Violating the FCPA can result in severe penalties, including fines and imprisonment. Essentially, the law fosters transparency and integrity in business dealings across borders, reflecting a commitment to ethical conduct in a global marketplace.