There was also the potential for an antitrust action for restraints of trade or fraud prosecutions by the Department of Justice (DOJ). The principal purpose of the 1977 Act was to prevent corporate bribery of foreign officials. It had three major provisions to attempt to accomplish this purpose. It was argued that, in nations in which acceptance of a fee or payment by a government official from one doing business with the government is customary and not unlawful under the laws of that nation, no violation of a United States law should occur. Foreign Corrupt Practices Act Amendments of 1988

In response to these criticisms, Congress for a number of years considered amending the 1977 Foreign Corrupt Practices Act. After considerable debate through at least three Congresses, the Foreign Corrupt Practices Act Amendments of 1988 were signed into law as Title V of the Omnibus Trade and Competitiveness Act of 1988 on August 23, 1988. Although the amendments maintained the three major parts of the 1977 Act discussed above—the accounting standards, the requirements of SEC registered issuers, and the anti-bribery provisions—the 1988 amendments made some significant changes to the 1977 Act. Section 5002 of the Trade Act amended Section 13(b) of the Securities Exchange Act to provide that no criminal liability shall be imposed for violation of the accounting standards unless a person knowingly circumvents or knowingly fails to implement a system of accurate and reasonable accounting controls. However, the "knowing" requirement was intended to encompass the "conscious disregard" and "willful blindness" standards, including a conscious purpose to avoid learning the truth. Foreign Corrupt Practices Act Amendments of 1998

In 1998 the Foreign Corrupt Practices Act was again amended in order to implement the Organization of Economic Cooperation and Development (OECD) Convention on Combating Bribery of Foreign Officials in International Business Transactions. The 1998 Amendments expanded the scope of persons covered to include certain foreign nationals, such as any officer of a public international organization. The 1998 Amendments also extended the act's jurisdiction beyond the borders of the United States. For example, during the 111 th Congress, there was interest in prohibiting businesses convicted of violating the Act from receiving government contracts. 3588 would have debarred persons found guilty of violating the FCPA from contracting with the federal government. H.R. 616 in the 114 th Congress would provide that the FCPA shall apply to any immigrant visa application under Section 203(b)(5)of the Immigration and Nationality Act. Executive Branch Enforcement

The executive branch has conducted oversight of American businesses for alleged violations of the act. Both the DOJ and the SEC have brought actions under their shared enforcement authority. It has been reported that DOJ is intensifying its efforts to find violators of the FCPA.
The Foreign Corrupt Practices Act of 1977 (FCPA) was enacted principally to prevent corporate bribery of foreign officials. This act had three major parts: (1) it required the keeping by corporations of accurate books, records, and accounts; (2) it required issuers registered with the Securities and Exchange Commission to maintain a responsible internal accounting control system; and (3) it prohibited bribery by American corporations of foreign officials.
For a number of years after passage of the act, Congress debated amending it in response to numerous criticisms. On August 23, 1988, the President signed into law the Omnibus Trade and Competitiveness Act of 1988, of which Title V is known as the Foreign Corrupt Practices Act Amendments of 1988.
The amendments maintained the three major parts of the 1977 Act, but significant changes were made. One of these changes enacted a "knowing" standard in order to find violations of the act. This standard was intended to encompass "conscious disregard" and "willful blindness." The amendments provided certain defenses against finding violations of the act, such as that the gift is lawful under the laws of the foreign country and that the gift is a bona fide and reasonable expenditure or for the performance or execution of a contract with the foreign government.
In 1998 the act was further amended in order to implement the Organization of Economic Cooperation and Development Convention on Combating Bribery of Foreign Public Officials in International Business Transactions. These amendments expanded the scope of coverage to include some foreign persons and extended jurisdiction beyond the borders of the United States.
Criticisms of the act have continued. There have been, for example, suggestions that businesses convicted of violating the FCPA should be debarred from receiving federal government contracts. Bills specifically amending the FCPA were introduced in the 111th and 112th Congresses. In the 113th and 114th Congresses, there appear to be bills only tangentially mentioning the act. For example, H.R. 616, 114th Congress, would provide that the FCPA shall apply to any immigrant visa application under Section 203(b)(5) of the Immigration and Nationality Act.
The executive branch has brought actions for alleged violations of the Act. The Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) share enforcement authority—DOJ, primarily enforcement of criminal provisions; SEC, civil provisions. There have been a number of settlements and indictments, resulting in both successes and losses for the federal government. It has been reported that DOJ is intensifying its efforts to prosecute violators of the FCPA.