The Foreign Corrupt Practices Act

The Foreign Corrupt Practices Act (FCPA) is a U.S. law that prohibits U.S. 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 FCPA also requires companies to maintain accurate financial records and implement internal controls to prevent corruption. Violations can lead to significant legal penalties, including fines and imprisonment. Overall, the FCPA seeks to uphold integrity in business transactions across borders, ensuring that decisions are made based on merit rather than unethical inducements.