The Foreign Corrupt Practices Act makes it a crime for individuals or companies to make or offer a bribe to a foreign official to obtain or retain business. Covington & Burling's Jacqueline C. Wolff and Pamela Sawhney provide a review of the past five years of FCPA prosecutions and voluntary disclosures. While government officials encourage companies to disclose possible wrongdoing voluntarily, Wolff and Sawhney warn that companies may want to weigh the real benefits -- and risks -- before taking that step.
January 31, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
” … [A]lthough nothing is off the table when you voluntarily disclose, I can tell you in unequivocal terms that you will get a real benefit … .”
Despite these heartening words by Assistant U.S. Attorney General Alice S. Fisher at a recent conference on the Foreign Corrupt Practices Act, an attorney representing a corporation cannot recommend voluntary disclosure of potentially criminal FCPA activities without weighing the promise of a “real benefit” against the very real risks.
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