A highly powerful foreign government official approaches your company and requests a large sum of money. In return for this brib
e, he promises your company will receive preferential treatment in all future government contracts. You quickly refuse his request, explaining that the ________ Act of the United States prohibits you from making such payments.
The Foreign Corrupt Practices Act is a law passed in the United States that prohibits U.S. firms from paying bribes fo foreign officials in exchange for a business deal. This law was created in 1977. The act's main purpose is to deter abuses of power and corruption. In order to fully comply with this law, internal controls must be put in place as well.
