User:Stortiserg
From Wikipedia, the free encyclopedia
Bribery in business
Bribery is defined as the offering, receiving or soliciting of any item of value to influence the actions of an official or other person in charge of a public or legal duty.[1] Bribes are always used to impact or change the actions of several people and are ted up with political and public corruption. Bribery is the offer or acceptance of anything of value in exchange for influence on a government/public official or employee of any position within a company. Generally, bribes can take the form of presents or payments of money in exchange for favorable treatment, such as awards of government contracts or a promotion within a company. Other forms of bribes may include property, various goods, privileges, services and favors.[2]
Bribery in the U.S
Until a decade ago, giving bribes to win business or speed up transactions was widely seen as a necessary evil, especially in emerging markets. In parts of Europe, companies were even allowed to deduct kickbacks they had paid against tax. But anti-bribery enforcement has been transformed since the early 2000s, when NGOs started to raise a stink and America stepped up use of its Foreign Corrupt Practices Act (FCPA)[3]. America though, remains as one of the toughest enforcers agains bribery in the world. "The General Federal Bribery Statute punishes the offense of bribery in the U.S. According to 18 USCS prec § 201(b), whoever directly or indirectly, corruptly gives, offers or promises anything of value to any public official with intent to influence that person’s official act will be fined for the offense of bribery. The punishment prescribed by the statue is a fine of an amount not more than three times the monetary equivalent of the thing of value, or imprisonment for not more than fifteen years, or both."[4] However there are ways bribes can be difficult to prosecute and some that are considered legal but unethical. As of today, The General Federal Bribery Statute does not prohibit the payment or receipt of witness fees provided by law which includes payment to experts for giving testimony in courts.
Commercial bribery
Commercial bribery is the giving or offering to give, directly or indirectly, anything of value to any private agent, employee, or fiduciary, without the knowledge and consent of the principal or employer, with the intent to influence such agent’s, employee’s, or fiduciary’s action in relation to the principal’s or employer’s affairs. Commercial bribery is one of the most common types of bribery experienced in the U.S. Anti commercial briberies laws are applicable oversees as well. The Travel Act provides that whoever travels in interstate or foreign commerce or uses any facility in interstate or foreign commerce with the intent to promote, establish, carry on, or facilitate the promotion, establishment, or carrying on of any unlawful activity and thereafter performs or attempts to perform any unlawful activity shall be guilty of a crime (18 USCS prec § 201).
 | This user is a student editor in Florida_International_University/Business_Ethics_(Spring_2018). |
- "What is BRIBERY? definition of BRIBERY (Black's Law Dictionary)". The Law Dictionary. 2011-11-04. Retrieved 2018-04-18.
- "Bribery - FindLaw". Findlaw. Retrieved 2018-04-18.
- "The anti-bribery business". The Economist. Retrieved 2018-04-18.