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The Foreign Corrupt Practices Act and International Bribery and Corruption: Recent Developments

Martin J. Weinstein, Allison George Newbold, International Resources Law: Today's Oil, Gas, and Mining Projects (1997)

As illustrated by recent scandals involving corrupt payments and bribes, both domestic and foreign, industrial and developing countries have become less tolerant of corrupt business practices than ever before. In the past three years, a new impetus has taken hold including several significant prosecutions and the imposition of a range of aggressive anti-corruption policies. As The Wall Street Journal recently reported, there are many indicators that the “campaign against corruption is moving into high gear.”1

For the United States, who adopted the Foreign Corrupt Practices Act (the “FCPA”)2 in 1977 and remains the only country with legislation prohibiting extra-territorial corruption, multi-national progress in the war against graft is a long-awaited development.