Bribery & Corruption 2018- Overview
The Foreign Corrupt Practices Act (“FCPA”) became law in 1977 and has been enforced aggressively for many years. It is the US Government’s primary tool in combating overseas bribery and corruption. The Department of Justice (“DOJ”) has jurisdiction over criminal prosecutions, while the Securities and Exchange Commission (“SEC”) is empowered to bring civil enforcement actions. The FCPA has a broad geographical reach and creates significant exposure for both companies and individuals. While the US Government had a record enforcement year in 2016 under the leadership of President Obama, enforcement of the FCPA remains a “critical” focus of the DOJ under the leadership of President Trump. In a recent speech, Attorney General Jeff Sessions stated that the DOJ will “continue to strongly enforce the FCPA and other anti-corruption laws”.