How do anti-corruption laws impact international business activities?

Anti-corruption laws play a major role in international business activities. In California, the federal government has enacted The Foreign Corrupt Practices Act (FCPA) of 1977. This act prohibits any U.S. business from bribing a foreign official or company to obtain or retain business or to receive preferential treatment. It also requires companies to accurately record their expenses and keep accurate books of account. The FCPA is a game changer in international business activities. Companies must now adopt policies and procedures to ensure that they do not engage in any illegal activities abroad. Companies must also be aware of any potential violations of the FCPA, as any violation could result in significant fines, jail time, and even the dissolution of the company. Moreover, companies must be aware of any local anti-corruption laws in the countries they are doing business in. Not only do these laws differ significantly from country to country, but they are often much more stringent and less forgiving than the FCPA. Companies must develop strategies to comply with local anti-corruption laws or risk serious penalties. Overall, anti-corruption laws play a major role in international business activities. Companies must be aware of, and abide by, both the FCPA and any local anti-corruption laws. In doing so, companies ensure that all business activities are conducted in an ethical and legal manner.

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How do anti-corruption laws impact international business activities?

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