New Law Against Extortion Demands by Foreign Officials.
This law creates a new legal tool allowing the prosecution of foreign government officials who demand bribes from US companies or individuals. The goal is to protect American businesses operating abroad from corruption and extortion. It introduces severe penalties, including high fines and imprisonment, for officials demanding value in exchange for business favors.
Key points
Criminalizing the Demand: US law now explicitly makes it a crime for a foreign official to demand a bribe or anything of value from a US company or person.
Broad Scope: The law covers officials of foreign governments, public international organizations, and individuals acting on their behalf, even unofficially.
Severe Penalties: Foreign officials face up to 15 years in prison and high fines (up to $250,000 or three times the bribe's value) if convicted of extortion.
Business Protection: The Act aims to shield US businesses from having to pay bribes, supporting fair global competition.
Expired
Additional Information
Print number: 118_S_2347
Sponsor: Sen. Whitehouse, Sheldon [D-RI]
Process start date: 2023-07-18