Question

Which of the following would be a violation of the Foreign Corrupt Practices Act?

a) A payment to a foreign government official to have a license application accelerated.
b) A payment to a member of the International Olympic Committee in order to obtain his or her vote on an Olympic site.
c) A payment to an official of a government-owned telecommunications company in order to speed up installation of phones in a business office.
d) A payment to a customs official in order to allow the unloading of goods from a ship.
e) All of the above are violations of the Foreign Corrupt Practices Act.

Answer 1

Answer: b) A payment to a member of the International Olympic Committee in order to obtain his or her vote on an Olympic site.

Explanation: Payments made to any members of the international Olympic committee to obtain favor either through votes or support, is a good example of the violation of the foreign corrupt practices. Which was out in place to stop or curtail payments made to foreign governments officials to obtain Favour or assistance.

Answer 2

E. All of the above are violations of the Foreign Corrupt Practices Act.

Explanation:

The Foreign Corrupt Practices Act (FCPA) is a United States law passed in 1977 that prohibits U.S. firms and individuals from paying bribes to foreign officials in furtherance of a business deal. The FCPA places no minimum amount for a punishment of a bribery payment.

The foreign corrupt practice act was enacted for the purpose of making it unlawful for certain classes of persons and entities to make payments to foreign government officials to assist in obtaining or retaining business.