Foreign Corrupt Practices Act of 1977 and the Violators
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What was the purpose of the Foreign Corrupt Practices Act of 1977? Search online, and provide a circumstance in which it has been alleged that the Act was violated.
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Solution Summary
The solution clearly defines the purpose of the Foreign Corrupt Practices Act of 1977 including companies/entities that violated it.
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The Foreign Corrupt Practices Act of 1977 "was enacted for the purpose of making it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business". (Source: US Department of Justice, http://www.justice.gov/about/about.html)
FCPA Enforcement clearly defined that the Act "generally prohibits U.S. companies and citizens, foreign companies listed on a U.S. stock exchange, or any person acting while in the United States, from corruptly paying or offering to ...
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