Foreign Extortion Prevention Technical Corrections Act

Crime and Law Enforcement

senate

house

president

Introduced on June 13, 2024 by Sheldon Whitehouse

Legislation Details

Repeals Section 5101 of the National Defense Authorization Act for Fiscal Year 2024 and restores the laws amended by that section to their previous state.
Introduces an updated version of the Foreign Extortion Prevention Act.
Defines “foreign official” and “public international organization” with specific criteria.
Makes it unlawful for any foreign official to demand or accept bribes in exchange for any act or decision in their official capacity, with the offense applying to actions involving U.S. territory, issuers, or domestic concerns.
Sets penalties for violating the prohibition on demanding bribes, including fines up to $250,000 or three times the value of the bribe and imprisonment for up to 15 years.
Establishes extraterritorial jurisdiction for offenses under the act.
Requires the Attorney General to submit annual reports on the enforcement of the act, including efforts to protect U.S. entities from foreign bribery, effectiveness of diplomatic efforts, enforcement actions taken, and resources needed for adequate enforcement.
Clarifies that the act does not encompass conduct that would violate existing U.S. anti-bribery laws under the Securities Exchange Act of 1934 or the Foreign Corrupt Practices Act of 1977.

Last updated 9/15/2024

Repeals Section 5101 of the National Defense Authorization Act for Fiscal Year 2024 and restores the laws amended by that section to their previous state.
Introduces an updated version of the Foreign Extortion Prevention Act.
Defines “foreign official” and “public international organization” with specific criteria.
Makes it unlawful for any foreign official to demand or accept bribes in exchange for any act or decision in their official capacity, with the offense applying to actions involving U.S. territory, issuers, or domestic concerns.
Sets penalties for violating the prohibition on demanding bribes, including fines up to $250,000 or three times the value of the bribe and imprisonment for up to 15 years.
Establishes extraterritorial jurisdiction for offenses under the act.
Requires the Attorney General to submit annual reports on the enforcement of the act, including efforts to protect U.S. entities from foreign bribery, effectiveness of diplomatic efforts, enforcement actions taken, and resources needed for adequate enforcement.
Clarifies that the act does not encompass conduct that would violate existing U.S. anti-bribery laws under the Securities Exchange Act of 1934 or the Foreign Corrupt Practices Act of 1977.