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Why GAN Integrity

GAN Integrity is how compliance teams get the tools and expertise to stay ahead of ABAC risk. With less effort but more reach, you finally get a better way to do your good work.

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See everything – Gain a comprehensive view of your anti-bribery and corruption risks in one centralized platform.

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Adapt to anything – Utilize a dynamic solution that adapts to regulatory changes and evolves with your program.

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Understanding The Foreign Corrupt Practices Act (FCPA)

The Foreign Corrupt Practices Act (FCPA), enacted in 1977, is a U.S. federal law aimed at preventing bribery and corruption in international business transactions. It has two main provisions:

Anti-Bribery Provisions: These prohibit U.S. individuals, companies, and certain foreign entities from bribing foreign government officials to obtain or retain business. This includes offering, paying, promising to pay, or authorizing the payment of money or anything of value to influence the actions of a foreign official.

Accounting Provisions: These require publicly traded companies to maintain accurate books and records and implement internal accounting controls to prevent and detect illegal payments.

The FCPA is enforced by the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). The FCPA also encourages companies to establish comprehensive compliance programs to prevent and detect bribery and corruption.

Why FCPA Compliance is Crucial

Violations to the FCPA can lead to substantial fines, penalties, and imprisonment for individuals, while companies risk reputational damage and loss of business opportunities. Adhering to the FCPA does more than just help companies avoid legal troubles and hefty fines; it also enhances their reputation for integrity. This is why having a robust compliance program is essential—it promotes sustainable business practices and paves the way for success in the global marketplace.

Key Expectations of FCPA Compliance

Prohibiting Bribery:

  • The FCPA makes it illegal for companies and their personnel to influence foreign officials with improper payments.
  • Compliance Tip: Implement strict anti-bribery policies and training programs detailing prohibited conduct and the legal consequences of non-compliance.

Accurate Record Keeping:

  • Companies must ensure that all transactions are accurately reflected in their books and are verifiable.
  • Compliance Tip: Utilize robust accounting systems that can track and report transactions transparently.

Robust Internal Controls:

  • Effective internal controls are crucial for compliance, helping to detect and prevent improper payments.
  • Compliance Tip: Regularly review and update internal control systems to reflect current risks and regulatory requirements.

GAN Integrity Solutions for FCPA Compliance

GAN Integrity’s platform is designed to support companies in maintaining robust ABAC compliance programs that meet FCPA requirements. The platform offers several key features:

ABAC Program Management Conflict of Interests Management Third-Party Risk Management Disclosure Management Reporting and Documentation

ABAC Program Management

Ensure your organization upholds ethical integrity and ABAC compliance through comprehensive risk assessments, effective policy management, and continuous monitoring. Capabilities include:

  • Third-party due diligence: Mitigate bribery and corruption risks with integrated questionnaires, sanctions checks, and risk intelligence data.
  • Disclosure management: Consolidate and assess conflicts of interest, gifts, travel, entertainment, and political and charitable contribution disclosures.
  • Reporting and documentation: Maintain a complete audit trail and detailed reporting to easily demonstrate compliance to stakeholders and regulators.
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GAN Integrity ABAC Compliance

Recent Resources

Reference

Foreign Corrupt Practices Act (“FCPA”) — Compliance Reference | GAN

The U.S. Foreign Corrupt Practices Act (FCPA), provisions, enforcement, penalties & recent violations by corporations like ABB Ltd. and Oracle Corporation.

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Blog

Developing Procedures and Controls to Detect Foreign Bribery

The best procedures & controls to detect foreign bribery and other forms of corruption target the risks your company faces. Read more.

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Reference

An Introduction to Anti-Bribery and Corruption

An introduction to anti-bribery and corruption Anti-bribery and corruption concerns—often reduced to the ubiquitous acronym “ABAC”—refer to that set of int

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Frequently Asked Questions

What is the FCPA compliance program?
The FCPA compliance program is a comprehensive set of policies, procedures, and internal controls designed to prevent and detect bribery and corruption in international business transactions. It typically includes anti-bribery policies, accurate record-keeping practices, robust internal controls, employee training, and third-party due diligence to ensure adherence to the Foreign Corrupt Practices Act's anti-bribery and accounting provisions.
The five elements of an FCPA violation are: (1) a payment, offer, authorization, or promise to pay money or anything of value; (2) to a foreign government official, political party, party official, or candidate; (3) with a corrupt intent; (4) for the purpose of influencing an official act or decision, inducing an action or omission in violation of a lawful duty, securing an improper advantage, or inducing the use of influence to affect a government act or decision; and (5) to assist in obtaining or retaining business. These elements establish the key components that must be proven to constitute a violation of the FCPA's anti-bribery provisions.
The Foreign Corrupt Practices Act (FCPA) has two main requirements: anti-bribery provisions that prohibit U.S. individuals, companies, and certain foreign entities from bribing foreign government officials to obtain or retain business, and accounting provisions that require publicly traded companies to maintain accurate books and records and implement internal accounting controls. These provisions aim to prevent and detect bribery and corruption in international business transactions, with enforcement carried out by the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC).
To ensure FCPA compliance, companies should implement a comprehensive anti-bribery and corruption program that includes clear policies, regular employee training, and robust internal controls. Additionally, organizations must conduct thorough due diligence on third parties, maintain accurate books and records, and establish effective mechanisms for reporting and investigating potential violations.
An example of an FCPA violation is when a company offers, pays, or authorizes the payment of money or anything of value to influence the actions of a foreign official to obtain or retain business. This can include providing cash bribes, lavish gifts, extravagant entertainment, or even job offers to foreign government officials or their family members in exchange for favorable business decisions or contracts.

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