Foreign Corrupt Practices Act – Background, Provisions and Sanctions

• By: Staff Editor
• Date: July 22, 2010

The Foreign Corrupt Practices Act (FCPA) of 1977 was created to implement stricter regulations against bribery. The act also includes requirements for transparency in accountancy under the SEC Act. It was signed into law by President Jimmy Carter and further amended in 1998 to include the International Anti-Bribery Act. The FCPA makes it illegal for a citizen or corporation of the United States or a person or corporation acting within the United States to bribe or seek advantage from a public official in another country.