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FCPA Compliance is even more critical as the DOJ has stepped up enforcement actions against corruption – and the impact on your business can be substantial. Help protect your company from significant fines or damage to your brand with a comprehensive compliance program.

Failure to comply can put your company at risk

Aggressive enforcement of the Foreign Corrupt Practices Act (FCPA) and related laws has many companies reevaluating their compliance controls and systems. The U.S. Department of Justice has stepped up its enforcement of the FCPA and increased the number of attorneys dedicated to enforcing it. In just the past two years, the government has prosecuted approximately 50 executives who have agreed to plead guilty to FCPA violations. Some are serving prison sentences of up to 15 years. Significant fines amounting to hundreds of millions of dollars have been levied against companies, including one fine exceeding $1 billion. Other costs can be equally high: damaged corporate reputations and brands, mounting legal fees, distracted leadership, and falling share prices. The United Kingdom has initiated enforcement actions under its new Bribery Act as well, and several other countries have anti-corruption laws on the books or under consideration. In the United States, federal prosecutors have approximately 150 open investigations of alleged FCPA violations across multiple industries.

Business leaders understand the need to protect the integrity of international markets, and they support government efforts to create a level playing field for law-abiding companies to compete and win business based solely on the price and quality of their products and services. However, as federal agencies have stepped up their investigations into bribery, money laundering, wire fraud, and other business crimes, many companies have struggled to understand their responsibilities and comply with regulations governing business conduct.

Among their concerns:

  • How can we monitor a multitude of international financial transactions and third-party business relationships—many seemingly beyond our ability to see or control—to prevent violations of anti-corruption laws?
  • If an infraction does occur, how can we demonstrate that we acted in good-faith to prevent it, and thus minimize the likelihood of prosecution and fines?
  • What are the best practices for implementing an effective compliance program?

Even the companies and banks that already have established compliance and training programs recognize the need to re-evaluate their activities in light of government’s enforcement efforts. They face greater scrutiny, and larger penalties if the law is violated, particularly if prosecutors conclude that a company lacked sufficient controls or failed to conduct adequate due diligence. As federal agencies ratchet up enforcement of the FCPA, anti-money laundering, and other anti-corruption laws, many companies are looking for enhanced strategies and tools for cost-effective compliance that reduces their exposure and risk in today’s strict regulatory climate.

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