By Carole Walters
Editor at Traliant
Dealing with public officials poses many ethical and compliance challenges for organizations that do business internationally. High on the list is the risk of bribery and corruption. Training employees and third parties on how to identify and interact with public officials can help minimize the risk of Foreign Corrupt Practices Act (FCPA) violations, while strengthening anti-corruption programs.
The FCPA is the principal federal law that makes it a crime to pay a bribe to a foreign public official for the purpose of obtaining or retaining business. Jointly enforced by the Department of Justice (DOJ) and Securities and Exchange Commission (SEC), the FCPA applies to any company that does business internationally or whose securities are listed in the US. Besides covering anti-bribery, the FCPA also has a books and records and internal controls provision. Both organizations and individuals can be held liable for violating the FCPA. [Read more…]