FCPA act will benefit most of the loyal business companies which are working properly. Only the companies which take the shortcuts of success such as giving or taking bribe will suffer due to the act. Researches are going on the advantages of the act and it has been identified that the company or the individual will benefit from the voluntary disclosure. In case, if the company or the individual is performing in a better way and legally then the voluntary disclosure will be given to them. The government has fixed some amount as a bribe and when the amount reaches the mentioned level then the voluntary disclosure will be ceased. Twitter
This act does harm only to the companies which are indulged in corrupt practices. The companies which violate the mentioned rules of the FCPA act will be punished legally by the concerned authorities. This act will help the country to prevent all types of bribery in the companies which perform high-level business with foreign countries. The bribery is an insult to both the countries which are involved in the business and so it is mandatory to have a check on the performance of the companies. This will enhance the level of the country in business opportunities. The business should be proper and so it will pave the way to enriching the business activities and more people will gain help from it.
Specifications of FCPA:
There are two key factors in the FCPA act. The first and foremost thing is to maintain the transparency of the business activities and to follow the specific guidelines given by the act. The second thing is the level of punishment or fine to the bribery activities. The country will take severe actions on the individual or the company whoever has committed the bribe. The amount of fine will not be minimum which will make the company suffer because of the act of bribe. These two key factors will be a great help to the government in stopping the illegal business or corrupt practices.
The people who have indulged in corrupt practices will be punished very seriously by making them pay the high amount of fine which will be an irreparable loss. These strict rules will make the people loyal to the government and they will not indulge in the corruption any longer. The global business will affect due to corruption and so it has to be strictly avoided. Thus, to prevent the global network of business from corruption, every country is taking the help of these strict laws.
The company which has faced the legal inquiry of the FCPA act will face the consequences of the bribery act in the upcoming days of business. The business will be affected more as the employers, partners, higher officials, dealers will have got the knowledge of the legal actions taken against the company. So this will entirely slow down the reputation of the company or the individual who has been part of the bribe. The business should be done under the legal provisions and there should not be any illegal works. This will cause a major disadvantage to all the people who are part of the business. It is very safe to maintain all the documents related to the transactions and deals in the best way.