The Foreign Corrupt Practices Act (FCPA) as a Symbolic Policy in the Broader “Anti-Corruption Movement”: A Case Study of Latin American Prosecutions

Abstract

The Foreign Corrupt Practices Act (FCPA) is a US law that ostensibly seeks to reduce transnational corruption through penalizing individuals/entities who bribe foreign officials. The purpose of this study is to critically assess the FCPA and examine how it has been applied within Latin America. To do so, we conduct a case study of FCPA bribery prosecutions in Latin America over a 20-year period, 1997–2016. Results show that only twenty-two individuals were prosecuted during this period, with penalties that amount to little more than a “slap on the wrist.” Consequently, the FCPA can be viewed as a symbolic policy in the larger “anti-corruption movement” in that it purports to battle corruption but does not, in fact, do so.