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From Baksheesh to BriberyUnderstanding the Global Fight Against Corruption and Graft$
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T. Markus Funk and Andrew S. Boutros

Print publication date: 2019

Print ISBN-13: 9780190232399

Published to Oxford Scholarship Online: May 2019

DOI: 10.1093/oso/9780190232399.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 November 2020

United States—Deconstructing the FCPA

United States—Deconstructing the FCPA

(p.3) 1 United States—Deconstructing the FCPA
From Baksheesh to Bribery
T. Markus Funk, Andrew S. Boutros
Oxford University Press

In 1976, the Securities and Exchange Commission (SEC) issued its groundbreaking Report of the Securities and Exchange Commission on Questionable and Illegal Corporate Payments and Practices, which characterized the problem of corrupt and illegal corporate payments as “serious and widespread.” Enacted in 1977, the Foreign Corrupt Practices Act of 1977 (FCPA) prohibits corrupt payments of money or anything of value to foreign officials in order to obtain or retain business. The FCPA continues to serve as the world’s only true anti-bribery touchstone against which subsequent enactments can be compared textually. Adherence to the directives of the FCPA continues as one of the most prominent issues in corporate compliance. The consequences of a DOJ investigation for an organization can be substantial and attention-diverting, a settlement can be costly, and an indictment can be crippling.

Keywords:   FCPA, foreign official, corrupt, bribe, anti-bribery, internal investigation, graft, whistle-blower

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