As global anti-corruption crackdown gains force, ACFCS Conference teaches essentials of complianceMIAMI - April 5, 2013 - PRLog -- As companies large and small become more and more globalized, routinely conducting business across international borders, they face the increasing threat of violating laws that prohibit overseas bribery and corruption. For corporations worldwide, the most serious corruption enforcement risks come from the US Foreign Corrupt Practices Act, or FCPA. Once rarely enforced, the FCPA has emerged as a powerful, versatile anti-corruption weapon. The US law forbids bribing or corrupting government officials in other countries, and it is used against US and non-US corporations alike. Over the past eight years, the FCPA has become well-recognized in the financial crime field, due to the law’s robust enforcement by the US Justice Department and Securities and Exchange Commission, and the enormous costs of FCPA violations. Penalties for violating the law are severe – the largest FCPA penalty, against German corporation Siemens, topped $800 million – and the costs stemming from internal investigations and reputational damage can be even greater. With US agencies continuing to scrutinize corporations worldwide for FCPA violations, other nations are also enacting and enforcing their own anti-corruption legislation. As a result, anti-corruption compliance programs to prevent bribery and FCPA violations are now more important than ever before for any corporation, financial institution or other company that operates overseas. To help companies protect themselves from corruption risks, the ACFCS 2013 International Financial Crime Conference & Exhibition, May 16 – 18 in Hollywood, FL, will feature panels with leading authorities teaching the essentials of FCPA and global anti-corruption compliance and enforcement. Panels offer key training on anti-corruption compliance “The rising tide of anti-corruption enforcement is one of the most significant developments in the financial crime arena in the past decade,” says Charles Intriago, president of the Association of Certified Financial Crime Specialists (ACFCS) and a pioneer in the field of money laundering controls. “FCPA enforcement actions carry huge price tags, and the US is no longer the only country targeting corrupt payments from corporations. The ACFCS 2013 Conference will help any business or organization build a top-notch compliance program and understand the new global landscape of anti-corruption enforcement.”
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