FCPA Online Anti-Bribery, and Anti-Corruption Compliance Training

Each year businesses and individuals pay an estimated $1.5 trillion in bribes. This pervasive issue doesn’t just siphon financial resources; it undermines economic growth, stunts development, destabilizes governments, and threatens democracy. Worst still, it creates fertile ground for criminal enterprises, terrorists, and traffickers to thrive. Recognizing the severity of this threat, the US Securities and Exchange Commission and other global governing bodies have implemented stringent laws with severe penalties to combat bribery and corruption.

Foreign Corrupt Practices Act (FCPA)

The Foreign Corrupt Practices Act (FCPA) was enacted by the US Congress in 1977 after it was discovered that US companies were spending hundreds of millions of dollars each year to foreign governments and officials in what were most likely bribes. The FCPA was passed both to restore public confidence in the integrity of American businesses and to promote the stability of foreign governments. The FCPA is enforced by the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC).

UK Bribery Act 2010

The UK Bribery Act 2010 has been described as the toughest anti-corruption legislation in the world. The Act prohibits bribery of any domestic or foreign official by UK companies and citizens wherever they are doing business. The Act’s prohibitions also apply to persons with close connections to the UK and, in some circumstances, to non-UK companies and individuals.

A new strict liability offense applies to companies that fail to prevent a bribe, where the only defense is a demonstration that the company had in place a robust anti-bribery and anti-corruption compliance program. The Serious Fraud Office (SFO) prosecutes high-level bribery and corruption cases under the Act.