The Foreign Corrupt Practices Act was created in 1977 to combat the bribery or payment of a foreign government official to assist in obtaining or retaining business. The creation of International Anti-Bribery and Fair Competition Act of 1998 expanded the anti-bribery provisions of the Foreign Corrupt Practices Act to apply to foreign companies and nationals who cause, directly or through agents, an act in furtherance of a corrupt payment to take place within the territory of the United States.
The passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act further reinforced the FCPA and offered incentives to prevent and expose bribery. The Dodd-Frank Act created protections for individuals who reported violations and created monetary rewards ranging from 10 to 30 percent.
The Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) jointly enforce the FCPA. The DOJ is responsible for enforcing the anti-bribery provisions where the SEC enforces the accounting provisions.