Wal-Mart announced it has now spent over $300 million on FCPA compliance costs. Some FCPA watchers are so indignant by the $300 million figure they have broken it down into FCPA compliance dollars spent per day, while others imply it's an impressive show of compliance remorse.
Entries in Supplemental Transparency Project (5)
The second objection defendant corporations typically have to FCPA enforcement concerns the thorny problem of solicitation. Sure, some companies pay bribes aggressively and unreservedly. But others feel pressured to do it. They feel trapped, with no alternative, like they’re being extorted. But that’s no defense under the FCPA.
Corporations -- those that are subject to FCPA jurisdiction generally, and especially those who have already been named defendants in an enforcement action -- commonly have two objections to enforcement. The Supplemental Transparency Project can answer both.
Let’s be honest: Wal-Mart did not introduce bribery to Mexico, or anywhere else. Systemic bribery is a pervasive problem, far greater than any single company or enforcement action. And make no mistake -- the citizens of those countries generally will not justify this bribery on the basis of their “culture.” They would like to see it cleaned up.