Throughout the history of humankind, corruption in the form of extortion and bribery has been an issue. As civilizations progressed and developed the incidence of such activities increased. In current times, with the technological advances in communication and information systems this has become and even larger issue to over see and to deal with. The 1977 passing of the FCPA, Foreign Corrupt Practices Act, addresses these issues and provides provisions that are used in the ongoing struggle to combat the forces of political corruption and the corruption in the business world of the United States. Revisions to the act occur frequently in order to better address the changes modes and means of the criminal acts associated with that corruption.
The anti-bribery amendments state that all individuals and businesses are prohibited by federal law from the making of or accepting of payments that are deemed improper. These provisions cover the spectrum of individuals and entities that interact and partake in transactions in the daily business procedures that occur throughout the world, as they relate to American companies and political officers and officials. The laws differ in regards with to whom they apply, and it is necessary that all those concerned understand the various distinctions.
Issuers are those companies that have securities that are registered in the U.S. If the issuer uses the United States Postal Service they are subject to the provisions outlined in the anti-bribery amendments. Now this has extended to include those that conduct transactions via the telephone, wire transfers of funds, interstate and international travel, faxes and email communication. These laws regarding bribery apply even if the action takes place outside the border of the United States. This is just one of the ways in which organizations are attempting to put an end to corporate and political corruption that affects the businesses, the political systems and the financial sector of today.
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