Uncovering the Costs of Foreign Bribery

Corporate corruption has long been recognized as a global issue that victimizes honest businesses and impedes long-term social and economic development. Enacted in 1977, the U.S. Foreign Corrupt Practices Act (FCPA) prohibits firms from offering bribes to foreign officials to obtain or retain business. The FCPA seeks to deter corporate corruption by making foreign bribery more costly. As enforcement of the FCPA has dramatically intensified in recent years, it becomes imperative that firms doing business overseas have a comprehensive understanding of the costs of foreign bribery.