U.S. Cashes In on Corporate Corruption Overseas

Crabtownboy · Apr 7, 2010

The economy of the world is truly interconnected.

What are the threads we can make to these companies if they do not pay the fine?

Why must Daimler AG, the German automaker, pay big fines to the U.S. government because two of its subsidiaries, one in Germany and the other in Russia, made improper payments to government officials of countries other than the U.S., such as China, Egypt and Serbia?
Welcome to the age of the Foreign Corrupt Practices Act (FCPA), a far-reaching bit of American legislation that cracks down on corporate bribery in all its forms and is rattling the cages of corporate chiefs the world over. The Department of Justice (DOJ) has jurisdiction over all related criminal violations under the act, and the Securities and Exchange Commission (SEC) keeps tabs on the civil violations committed by U.S. companies. What's more, the law doesn't just mean the U.S. government is looking for past incidents of corruption; it's also stirring the pot to see who may be corruptible in the future.

Read more: http://www.time.com/time/business/article/0,8599,1977526,00.html#ixzz0kQE4hPGD
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U.S. Cashes In on Corporate Corruption Overseas

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