Foreign Corrupt Practices Act (“FCPA”) enforcement continues to slowly rebound from pre-pandemic levels. In 2023, the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) resolved 13 corporate FCPA matters for $733 million in penalties, disgorgement, and interest. Meanwhile, the DOJ announced nine FCPA indictments against individuals and, for the third year in a row, the SEC announced no individual FCPA enforcement actions. DOJ and SEC leadership attributed their enforcement statistics to the natural ebb and flow of FCPA cases and the lingering effects of the COVID-19 pandemic, and not due to any lack of focus on FCPA enforcement. Indeed, the Biden administration continues to prioritize anticorruption enforcement, reiterating that fighting corruption is a core national security interest.
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