US Executive Order Pauses Foreign Corrupt Practices Act: A Dangerous Step Backward for Global Integrity

 

 

In a concerning move, the US has issued an executive order that pauses the enforcement of the Foreign Corrupt Practices Act (FCPA), a cornerstone of global anti-corruption law that bans the bribery of foreign officials. This decision threatens to weaken the global business integrity that has long served as a bedrock for ethical operations in international markets. For US companies, this represents not just a setback in governance but a potential erosion of their competitiveness in an increasingly integrity-conscious business environment.

WBA's 2024 Social Benchmark report, which assesses the world’s 2,000 most influential companies, found that 61% of them have committed to a zero-tolerance policy on bribery and corruption. This demonstrates a clear global consensus that integrity is central to business success. But with the potential rollback of the FCPA, there is a real risk that businesses may be given a green light to backtrack on these commitments, undermining the hard-won progress of the past few decades.

This is a pivotal moment. Policymakers, investors, and businesses must stand firm in their commitment to ethical standards. Upholding integrity is not just a choice – it is essential for creating fair economies, driving long-term success, and fostering just societies. As we navigate this new challenge, leadership is crucial in ensuring that business practices remain aligned with the values of transparency, accountability, and fairness.

Let’s ensure that global business integrity continues to thrive, and that this potential backslide is prevented.