FBI to Join Crackdown on FCPA
Last week, the Wall Street Journal reported the Federal Bureau of Investigation (FBI) plans to increase its focus on Foreign Corrupt Practices Act (FCPA) enforcement. According to FBI officials, the bureau will add nearly two-dozen new employees this year. The FBI also plans to devote new resources to support field offices in major cities, including New York City, Washington, DC, Miami and Los Angeles.
The FBI’s efforts are intended to compliment the objectives of the Securities and Exchange Commission (SEC) and Department of Justice (DOJ), who have both stated that they too plan to crackdown on foreign corruption and bribery in 2015. In an interview, Joseph Campbell, Assistant Director of the bureau’s criminal division, said, “With the growing global economy and the growing nature of international commerce with globalization of more companies and economies, it’s creating more opportunities for the potential of FCPA and corruption.”
With three major well-funded regulatory agencies honing in on FCPA violations, 2015 will likely bring record high FCPA investigations and prosecutions.