Foreign Corrupt Practices Act (FCPA)

The Foreign Corrupt Practices Act (FCPA) is a U.S. law that makes it illegal for American companies and individuals to bribe foreign government officials to gain business advantages. It aims to promote ethical practices in international business. The FCPA also requires companies to maintain accurate financial records and implement internal controls to prevent corruption. By holding businesses accountable for their actions abroad, the FCPA seeks to create a level playing field and reduce corruption in global markets. Violations can lead to severe penalties, including fines and imprisonment.