The Foreign Corrupt Practices Act is 40 years old, and it hasn’t aged a bit.
The FCPA was enacted in 1977 to punish businesses for paying bribes to foreign government officials. The law is global in scope, and affects multiple parts of the supply chain. Penalties can be severe, involving multi-million-dollar fines and even jail sentences for violators. For businesses, the consequences can be even more wide-ranging, including a plunge in share value, the inability to attract and retain staff, and huge legal fees. On this episode, we talk about the current state of the FCPA with Charles Thomas, director of anti-bribery and corruption with LexisNexis Risk Solutions. He brings us up to date on recent enforcement efforts (hint: they’re extensive), and offers tips on what companies should be doing to guard against instances of bribery and corruption in their international dealings. Many, he says, are lagging in that effort. Hosted by Bob Bowman, Managing Editor of SupplyChainBrain.
Look for a new episode of the podcast, which can be downloaded or streamed, every Friday on the SupplyChainBrain website and iTunes.
A list of FCPA enforcement actions by the U.S. Securities and Exchange Commission.
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