Global Anti-bribery Laws...Foreign Corrupt Practice Act (FCPA) in USA
What is a Bribe?
Generally, offering or giving something of value—anything of value—to improperly influence someone to obtain or retain business or some other benefit is a bribe. In addition to money, bribes may include, among other things:
- Gifts (for commoners the value is a nominal $25, for those in Congress most receive much grander amounts
- Cash equivalents and financial instruments (securities, loans, and gift certificates)
- Entertainment
- Airline tickets
- Offers of employment/internship (even if unpaid)
- Political and charitable donations
- Sponsorship for seminars and educational programs
- Anything that has value to the recipient
Penalties for Bribery
Violations of the FCPA and other anti-bribery laws can have serious consequences for IBM and its Business Partners, such as:
- Damage to reputation and brand
- Jail for individuals
- Fines for corporations or individuals (or both)
- Appointment of an independent compliance monitor to evaluate anti-corruption compliance and implement measures to mitigate corruption risk
- Loss of rights to do business with government agencies
- Suspension or revocation of export privileges
All of this review has me wondering why these rules/laws apply to just the common folk and not the rulers (AKA Congress) here in the USA?
- All the posturing by the talking heads is just that talk; no action. When the above is this obvious there should be agents crawling all over it to get someone to jail.
