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Foreign Corrupt Practices Act PDF Print
Training ProviderLearn Skills

Assessment

Quizzes & Final Exam
Location learnskills.org Qualification Certificate of Completion
Method Asynchronous Self-paced EligibilityOpen
Cost50 EUREnrol Now  

Learn Skills Online Course

With the increasing globalization of our economy, companies are faced with new challenges as well as new opportunities. Part of this new environment is compliance with laws such as the Foreign Corrupt Practices Act, or FCPA, which regulate the way U.S. companies transact international business. Enacted in 1977, the FCPA was a response to government findings that hundreds of U.S. companies, including many of the Fortune 500, were using cash and "slush funds" to make questionable or illegal payments to foreign government officials, politicians and political parties. The purpose of the statute is to halt the bribery of foreign officials and restore public confidence in the integrity of the American business system.

Recent international initiatives, including the Inter-American Convention Against Corruption and the OECD's Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, have refocused the world's attention on anti-bribery issues. Major U.S. trading partners have now promised that they, too, will enact legislation similar to the FCPA. In fact, at least 21 signatories of the OECD convention have already done so. These international efforts to battle corruption mean that U.S. companies can compete on the merits with increasing certainty that they will not be undercut by a competitor's illicit payment to a foreign-government purchaser. They also mean that there is an increased emphasis on enforcement of anti-corruption legislation worldwide, and particularly of the FCPA within the U.S., making company compliance more important than ever.

Course Summary

This Course explains the FCPA in simple, understandable terms. It uses examples from news headlines to emphasize the importance of FCPA compliance and reinforces lessons learned through realistic quiz scenarios presented at the end of the Course.

The topics covered in the Course include —
  • Purpose, scope and coverage of the statute
  • Prohibited recipients and payments
  • Intent and the "knowing" standard
  • Due diligence and recognizing red flags
  • Exceptions and affirmative defenses
  • The books and records provisions
  • Penalties and sanctions