International Bribery Regulation And The Bribery Act 2010

2.4 International Bribery Regulation and the Bribery Act 2010 2.4.1 Development of National and Transnational Ethics Regulations The development of national and international bribery legislation and regulation has been a slow process spanning many centuries, stemming from the recognition of Piracy as the first and true international crime (Duhaime’s Law Dictionary, 2015). Although wide agreement exists on the detrimental impacts of bribery and corrupt practices, many individual countries and transnational industries (including that of civil engineering) fear implementation of tough anti-bribery legislation will cause unfair competitive disadvantages compared to their counterparts from countries where foreign bribery is not criminalised (OECD Observer, 2012). The first major push to implement anti-bribery legislation was taken by the United States with the Foreign Corrupt Practices Act (FCPA) 1977; this law made it illegal for certain classes of U.S. persons to make payments to foreign government officials to assist in obtaining or retaining business (U.S. Department of Justice, 2015). The broader development of ethics based law and regulation has developed primarily throughout the 20th century; particularly post 1950 when most of the worlds Inter Governmental Organisations (IGOs) had been established. Some of the most important IGOs in this area include the United Nations (UN), World Bank, World Economic Forum (WEF) and Organisations for Economic Co-operations andShow MoreRelatedForeign Partnership Act Case Study1269 Words   |  6 PagesAfter a thorough examination of the Foreign Corrupt Practices Act of 1977, as amended, 15 U.S.C  §Ã‚ §78dd-1 (FCPA) and the United Kingdom’s Bribery Act of 2010. 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