Skip to comments.1977 anti-bribery law put businesses at ‘competitive disadvantage’
Posted on 03/21/2012 4:22:34 PM PDT by ruralvoter
The Department of Justice has recently begun enforcing a once-obscure anti-bribery law that makes it illegal for multinational corporations to engage in bribery with foreign governments, drawing criticism over the very aggressive approach to the law.
The of 1977 (FCPA) has been rarely enforced over the last 35 years. But, currently, 78 companies are under investigation by the Department of Justice, including well-known companies like Avon, Goldman Sachs, Hewlett-Packard, Pfizer and Wal-Mart Stores (SNIP) Recently however, there has been a sharp increase in cases. In the last four years, a total of 58 companies have paid a combined $3.74 billion to settle such corruption charges. Since 2009, some 67 people have been charged, 20 are still awaiting trial or are at large, and 42 have been convicted, some from charges prior to 2009.
(Excerpt) Read more at dailycaller.com ...