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Lawmakers Criticize FCPA Enforcement, Hear Calls to Amend Law
By Colby Adams
printSenate panel members Tuesday criticized the U.S. Justice Department's enforcement of a U.S. anti-bribery law even as representatives from the commercial sector asked Congress to better shield it from penalties. In the last five years, the number of enforcement actions brought under the U.S. Foreign Corrupt Practices Act (FCPA) exceeded the total number of actions brought from 1977-when the law took effect-to 2005, according to U.S. Justice Department statistics. Since 2005, fines under the law have totaled at least $1.5 billion, according to the department. But in the context of punishing and deterring bribery, "fines don't amount to a whole...
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To Comply With Anti-Bribery Law, Banks Must Be Careful with Payments for Licenses, Sovereign Clients
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