Thursday, July 24, 2008

Does India figure in the FCPA often?

Skeletons in M&A cupboards

The Foreign Corrupt Practices Act (FCPA) is a US federal law mostly known for clamping down on bribery of foreign officials. If one would review FCPA enforcements over the last five 5 years, India finds a name mention in over 70 enforcements; and of the enforcements in 2007, more than half of them arose in the context of M&A (merger and acquisition) activity. "These are figures that India Inc. cannot ignore," says Ms Navita Srikant, Partner, Fraud Investigation & Dispute Services, Ernst & Young.

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