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New U.S. & Chinese Laws Targeting Bribery & Corruption

Bloomberg Law

In this article, FeiFei Ren discussed the key implications of recent anti-corruption legislation in the U.S. and China. In December 2023, U.S. passed the Foreign Extortion Prevention Act (FEPA), which directly criminalizes the request or receipt of bribes by foreign officials for the first time. Shortly thereafter, China introduced notable amendments to the anti-bribery provisions in its Criminal Law, including heavier penalties for both bribe recipients and givers and increased scrutiny on high-risk industries such as finance, education, and healthcare. "These laws do not have much new impact on multinational companies that have already implemented a risk-based anti-corruption compliance program. However, lawyers and compliance professionals may want to consider whether this could be a good time to refresh your risk assessments and reevaluate and reinforce your compliance program as needed...and be aware of the changing dynamics for Chinese officials," Ren wrote.