UK businesses are largely unaware of the risks they might face when doing business in the US despite the NatWest Three publicity
A new survey by KPMG Forensic reveals 46% of legal department heads at FTSE350 companies which conduct business in the US either wrongly believe they are immune from US prosecutors or are simply unaware whether they might fall under their jurisdiction.
KMPG surveyed general counsels and company secretaries at FTSE350 companies on their awareness of the US Foreign and Corrupt Practices Act (FCPA), legislation which permits US authorities prosecute foreign companies and individuals with a ‘US footprint’ for corrupt practices involving public officials.
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