These are just a few questions amongst many to ask in accessing your organizational risk .
What is the FCPA ?
It is a US statute that criminalizes bribery of a foreign official for the purpose of obtaining or retaining business or an improper business advantage by inducing the foreign official to :
• Act or make a decision in his or her official capacity .
• Exercise influence to affect an act or decision of a government .
• Violate a lawful duty .
• Confer an improper advantage upon the payor of the bribe . Bribes can include an offer or payment of “ anything of value ,” including , but not limited to money , gifts , services , charitable donations , corporate hospitality and entertainment , the promise of future work or employment , or the award of a contract or business .
“ Foreign officials ” may include government employees , politicians holding elected office , candidates for elected office , employees of “ public international organizations ” ( e . g ., the United Nations ), employees of a political party , employees of a company owned or controlled by a government , or an agent or consultant intermediary working on behalf of a foreign official .
Other anti-corruption laws may define foreign officials or foreign public officials more expansively .
Noteworthy Trend : FCPA Compliance & Ethics . USA Outpaced ?
Non-U . S . enforcement actions concerning bribery of foreign officials outpaced U . S . enforcement actions for the first time . The widely held perception has been that only the United States enforces its anticorruption laws . The recently released report indicates enforcement by overseas regulators is on the rise , doubling since 2012 , beginning to match the past decade of heightened enforcement of the U . S . Foreign Corrupt Practices Act . Trace International ’ s Global Enforcement Report
Tips to Get Ahead of the Game , Be Proactive , Prepare Your Business !
Your organizational program requires a Standalone International Anti- Corruption Compliance policy , and an Executive who is Accountable for the “ Tone at the Top ”. Any company doing international business , should enact a standalone FCPA Compliance Policy . Do not rely on having a few paragraphs about international corruption buried in your general Standards of Business Conduct ; it is no longer sufficient .
Don ’ t Wait Until the Last Minute .
Prepare your company to do business with entities who have due diligence requirements . Most corporations now have stringent due diligence requirements , you can be prepared ahead for this and position your business as a first in line option for contract opportunities . Specializing in emerging markets , Mzuzah bilateral advisory provides legal and business support services to navigate new markets , unfamiliar terrains to avoid common pitfalls .
Doyin Oluntona , Esq Co-Founder , Mzuzah Inc . ( Bilateral Advisory ) & Uturn Africa An Attorney focused on Bilateral , Legal / Business & CSR Issues Email : mzuzah @ mzuzah . com
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