It is even more important for organizations that deal with foreign officials to deploy a Foreign Corrupt Practices Act (FCPA) training course. The FCPA was passed by the U.S. Congress in 1977. This act was to stop American organizations and their employees from influencing foreign officials using bribes or other rewards.
Not complying with the FCPA can lead to unwelcome consequences, because the US government enforces this Act aggressively. In the first half of 2018 alone, the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) enforced this Act against five entities and also five individuals. The total sanctions that resulted from this enforcement added up to $1.2 billion.
This course is a great first place to start for organizations looking to deploy and track FCPA training. It provides an excellent overview of FCPA. This course also covers its two provisions: the anti-bribery provision and the accounting provision. It explains who is covered under this Act, what is covered under the Act, and also the jurisdictional reach of the Act. It provides even more useful information such as who is considered a foreign official, what is a knowing action, what is a willful action, and what constitutes a bribe. To add to that, the course also provides an international context of the law by providing an overview of similar laws in other countries.
The US government and its multinational partners have committed to a global crackdown on corruption. No matter their job responsibilities, everyone needs to know the types of business activities are prohibited under the FCPA, and understand how to prevent violations. This training will help meet those goals.
Duration: 45 minutes