Zeynalzada Nurlan Elkhan,
Master’s student of Baku State University Law Faculty, specialization in “Transnational Criminal Law”.
E-mail: [email protected]
The global battle against corruption is waged through a plethora of strategies, encompassing the enforcement of domestic laws adhering to international standards, the establishment of anti-corruption bodies, and the endorsement of international conventions and treaties. Corruption, with its facets of bribery, embezzlement and money laundering, poses a significant threat to democratic processes, human rights, and economic progress.
One pivotal legislative instrument in this fight is the Foreign Corrupt Practices Act (FCPA) enacted by the United States in 1977. The FCPA prohibits certain foreign securities issuers, as well as U.S. entities and individuals, from providing compensation to foreign government officials to gain or maintain business. It encompasses bribery in both monetary and non-monetary forms, necessitating caution in decision-making for organizations operating globally.
Enforcement of the FCPA falls under the purview of both the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ), imposing substantial penalties to deter international corruption. Its influence extends beyond U.S. borders, affecting domestic and foreign companies alike and serving as a model for anti-corruption laws worldwide [4].
The United Nations Convention Against Corruption (UNCAC), ratified in 2003, is another crucial framework in the global anti-corruption endeavor. It mandates international cooperation, asset recovery, criminalization, and prevention measures, emphasizing the need for synchronized action against corruption’s transnational nature [5].
The OECD Anti-Bribery Convention criminalizes bribery of foreign public officials in international business transactions, fostering international collaboration and offering recommendations to enhance anti-bribery efforts [2].
The Inter-American Convention Against Corruption, the African Union Convention on Preventing and Combating Corruption, and the Council of Europe’s Criminal Law Convention on Corruption are regional initiatives addressing corruption comprehensively within their respective areas [6].
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