White-Collar Crime – Foreign Corrupt Practices Act
For many years, giving and receiving bribes to influence the decisions of foreign bodies, mostly to get a business contract or appointment, was the norm. The Foreign Corrupt Practices Act was created in 1977 to end fraudulent business activities and give US companies an equal chance of getting contracts.
State and federal laws regulate white-collar crimes because of their direct impact on the economy and the constant involvement of public officials in this crime. If you face any charges related to Foreign Corrupt Practices Act violation, it can lead to heavy penalties.
You need a professional attorney to defend you if you have foreign corrupt practices charges. With the backing of an attorney, there is a higher chance of proving your innocence or facing fewer penalties.
What are Foreign Corrupt Practices?
Foreign corrupt practices involve business and financial activities that violate the Foreign Corrupt Practices Act (FCPA). The Foreign Corrupt Practices Act regulates individuals, business owners, and public officials from the illegal process of giving bribes in the form of money or gifts to foreign government officials.
Foreign corrupt practices involve citizens or public officials bribing foreign government officials for their businesses or personal interests. Foreign corrupt practices fall into the white-collar crime category. Although they do not involve physical violence or harm, they involve the illegal process of cheating to get contracts or funding.
Apart from bribing, corrupt foreign practices involve altering business transaction documents to hide payments to a foreign organization. It also consists of hiding bribes as business commissions or investments.
When businesses modify their business transaction records by including payment for a non-existent transaction or increasing prices for business transactions to leave no traces of foreign bribes, it is a corrupt foreign practice. Foreign corrupt practices violate anti-bribery provisions in the FCPA.
What Is the Foreign Corrupt Practices Act?
The Foreign Corrupt Practices Act (FCPA, the Act) is one of the United States laws that target white-collar crimes. This act prevents businesses and individuals in the United States from paying bribes to foreign bodies for favors. The FCPA covers different corrupt foreign practices, detailed in various sections in 15 U.S. Code § 78dd.
The FCPA is a federal act and targets public and private companies. It also affects foreign organizations that are in one way or the other involved in corrupt practices. The regulatory bodies in charge of the Foreign Corrupt Practices Act are the Securities and Exchange Commission (SEC) and the Department of Justice.
How Can a Lawyer Help?
Foreign corrupt practices lawyers have experience in the various investigations organized by regulatory bodies. If there is a charge of violation of the Foreign Corrupt Practices Act, the DOJ and SEC investigate to get evidence to convict a suspect.
FCPA charges require expert representation and defense against government investigations. A criminal defense lawyer assists in helping their clients answer questions the right way. They also represent clients in interrogations.
For organizations with FCPA charges, a defense attorney helps them review financial reports and every record. They also put in place proper paperwork that turns government investigations in favor of their clients.
A professional foreign corrupt practices act lawyer can also help build a solid case to prove your innocence. They can defend you if there is no concrete evidence against you. Also, they help to reduce the punishment you receive if you are found guilty.
There are some exceptions to the Foreign Corrupt Practices Act, and professional foreign corrupt practices act lawyers can leverage these exceptions to defend clients.
Foreign Corrupt Practices Penalties
Violations of the Foreign Corrupt Practices Act have strict punishment both as a criminal and civil offense. An individual can face up to five years imprisonment or pay a charge of over $200,000. Organizations can pay fines over $2 million if they are convicted of violating anti-bribery laws.
In more severe cases of corrupt foreign practices, organizations will pay a fine of 20-25 million, and Individuals can pay up to $2-$5 million fine and up to 20 years jail term.
Building a Foreign Corrupt Practices Defense
After receiving corrupt foreign practices crime charges, the immediate step to take is to contact an experienced white collar crime attorney. You need all the help you can get if you have Foreign Corrupt Practices Act violation charges.
A foreign corrupt practices crime is a very tough charge. Only highly trained attorneys can handle this type of case.
Zoukis Consulting Group gives you access to expert attorneys that provide legal support during this period. We offer legal assistance to any individual, private or public organization involved in FCPA charges. We have worked with many past clients and have the necessary skill and expertise to defend our clients.
Contact today for an one-hour initial consultation.
Published Feb 16, 2022 by Christopher Zoukis, JD, MBA | Last Updated by Christopher Zoukis, JD, MBA on May 12, 2023 at 12:45 pm