The Foreign Corrupt Practices Act was adopted in 1977 has been criticized for giving American businesses an unfair advantage in foreign business transactions.

Question

The Foreign Corrupt Practices Act was adopted in 1977 has been criticized for 	giving American businesses an unfair advantage in foreign business transactions.

Quizplus · Accepted Answer

The Foreign Corrupt Practices Act (FCPA) was actually adopted to prohibit American businesses from engaging in bribery and corrupt practices when conducting business abroad, in order to create a more level playing field for all companies. The FCPA applies to all businesses operating in the US, regardless of their country of origin, and is intended to promote fair competition and combat corruption. Therefore, it does not give American businesses an unfair advantage, but rather promotes ethical standards in international business transactions.

The Foreign Corrupt Practices Act Was Adopted in 1977 Has