petro refining corporation makes payments to potential customers, suppliers, and others with whom they might do business, including foreign private companies and the representatives of foreign labor organizations. if petro knows that these payments will be passed on to a foreigh goverhment, this practice is:

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27-10-2022
Business

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petro refining corporation makes payments to potential customers, suppliers, and others with whom they might do business, including foreign private companies and the representatives of foreign labor organizations. if petro knows that these payments will be passed on to a foreigh goverhment, this practice is:

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qwyellow qwyellow · Answer 1 · 2022-11-03T12:55:39-04:00

If petro refining corporation knows that these payments will be passed on to a foreign government, this practice is a violation of the Foreign Corrupt Practices Act.

Foreign Corrupt Practices Act of 1977 holds a US citizen or company to pay, promise or offer money to a foreign official for obtaining or retaining the business. It aims to deter any involvement in bribery of foreign officials and misuse of power.

If convicted under this law, the offender could get five years of imprisonment or 100,000$ in criminal penalties. The penalty in a civil case could be 10,0000$.

It is also applicable to foreign individuals and corporations who commit bribery and corruption in the territory of the United States.

Learn more about Foreign Corrupt Practices Act here https://brainly.com/question/26495697

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