Multinational corporate entities must design their anti-fraud frameworks to comply with strict international statutory regulations that carry significant extraterritorial penalties, including the US Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act.
[Anti-Corruption Controls] ---> Compliance Reviews ---> Verification Logs + Audit Records
Internal auditors and fraud risk managers must evaluate corporate anti-corruption controls against several key regulatory parameters:
| Statutory Regulation | Extraterritorial Jurisdiction | Primary Prohibited Conduct | Corporate Strict Defense |
|---|---|---|---|
| US Foreign Corrupt Practices Act | Applies to US companies, issuers, and any entity executing transactions passing through US financial systems. | Prohibits offering or giving anything of value to foreign government officials to influence an official act or secure a business advantage. | Maintaining accurate accounting records and internal controls that prevent hidden slush funds. |
| UK Bribery Act | Applies to any corporate entity that carries on a business, or part of a business, within the United Kingdom. | Prohibits commercial bribery, receiving bribes, and bribing foreign officials, introducing a strict corporate offense for failing to prevent bribery. | Demonstrating the implementation of Adequate Procedures built around six core anti-corruption principles. |