How does international business law protect against foreign bribery and corruption?

International business law strives to protect against foreign bribery and corruption through the implementation of various laws, regulations, and enforcement measures. In California, the United States Foreign Corrupt Practices Act of 1977 (FCPA) is a federal law that prohibits corporations, organizations, and individuals from engaging in bribery and corruption in foreign countries. It applies to any business transaction with a foreign government, foreign political party, or foreign public official. The FCPA also covers solicitation and acceptance of bribes, kickbacks, and facilitation payments to a foreign government official. To comply with FCPA, U.S. companies must have internal anti-corruption policies and procedures in place. They must also train their employees on these policies and properly monitor their activities to ensure compliance. Furthermore, any payment to a foreign government official must be accurately recorded in the company’s books and records. In addition, California has adopted the California Transparency in Supply Chains Act of 2010, which requires companies to disclose their efforts to eradicate forced labor, human trafficking, and other forms of exploitation from their supply chains. These efforts may include implementing internal policies and procedures, training their employees, and conducting independent third-party audits. In sum, international business law protects against foreign bribery and corruption by enforcing laws and regulations that prohibit companies from paying bribes and engaging in other forms of corruption. Companies must put internal policies and procedures in place to ensure compliance with these laws, as well as properly monitor and record their activities.

How does international business law protect against foreign bribery and corruption?

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