From Bribery to Empowerment
In the last three years, fines for violations of the US Foreign Corrupt Practices Act – which prohibits companies from paying bribes to foreign government officials – have exceeded $2.1 billion. But, rather than treat fines from such laws as national revenue, governments should apply them directly to addressing corruption’s causes.
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WASHINGTON, DC – Last month, Tyco International paid the United States government $26 million in penalties for bribing officials in Thailand, Turkey, and elsewhere. In the last three years alone, fines for violations of the US Foreign Corrupt Practices Act (FCPA) – under which corporations with ties to the US face criminal penalties for paying bribes to foreign government officials – have exceeded $2.1 billion. Similar laws are enforced in more than 20 countries.