Global Anti-bribery Laws...Foreign Corrupt Practice Act (FCPA) in USA

By Keith Thuerk | SCIFI Future | 20 Sep 2022

Global Anti-bribery Laws...Foreign Corrupt Practice Act (FCPA) in USA

What is a Bribe?
Generally, offering or giving something of value—anything of value—to improperly influence someone to obtain or retain business or some other benefit is a bribe. In addition to money, bribes may include, among other things:

  • Gifts (for commoners the value is a nominal $25, for those in Congress most receive much grander amounts
  • Cash equivalents and financial instruments (securities, loans, and gift certificates)
  • Entertainment
  • Vacations
  • Trips
  • Airline tickets
  • Offers of employment/internship (even if unpaid)
  • Political and charitable donations
  • Sponsorship for seminars and educational programs
  • Anything that has value to the recipient

Penalties for Bribery
Violations of the FCPA and other anti-bribery laws can have serious consequences for IBM and its Business Partners, such as:

  • Damage to reputation and brand
  • Jail for individuals
  • Fines for corporations or individuals (or both)
  • Appointment of an independent compliance monitor to evaluate anti-corruption compliance and implement measures to mitigate corruption risk
  • Loss of rights to do business with government agencies
  • Suspension or revocation of export privileges

All of this review has me wondering why these rules/laws apply to just the common folk and not the rulers (AKA Congress) here in the USA?

Summary - All the posturing by the talking heads is just that talk; no action.   When the above is this obvious there should be agents crawling all over it to get someone to jail.

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Keith Thuerk
Keith Thuerk

Currently learning about Crypto & DeFi to combat the Inflationary Tidal wave coming our way!

SCIFI Future
SCIFI Future

Quantum Computing In Bite Size Pieces & SCIFI items

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