December 14th, 2023, marked a legislative milestone with the approval of the Foreign Extortion Prevention Act (“FEPA”) by the United States Congress. This Act complements the Foreign Corrupt Practices Act (“FCPA”), introducing fundamental changes in the battle against the bribery of foreign officials.
FEPA enables the imposition of sanctions on officials of foreign governments who seek or accept bribes from a US citizen, company, issuer, or any person located in U.S. territory, with fines of up to $250,000 and sentences of up to 15 years of imprisonment.
A distinctive feature of this Law is its extraterritorial jurisdiction, granting the United States Department of Justice the authority to pursue crimes committed abroad under certain circumstances.
As the implementation of FEPA evolves in the coming years, it is imperative that all global businesses stay abreast of legislative updates to ensure their compliance programs align with the latest regulations, including FEPA.
