Canadians Accountable For Bribing Foreign Public Officials
Corruption of Foreign Public Officials Act (CFPOA) is a Canadian law that makes it a criminal offence for persons or companies to bribe foreign public officials to obtain or retain a business advantage. The CFPOA was enacted in 1999 to implement the OECD anti-bribery convention standards.
In 2013, the Canadian government strengthened the CFPOA by adding provisions to prohibit inaccurate record-keeping or destroying records “for the purpose of bribery of a foreign public official in order to obtain or retain an advantage in the course of business or for the purpose of hiding that bribery.” Unlike the recording-keeping provisions of the FCPA, which apply only to publicly-held companies, the CFPOA’s record-keeping provisions apply to both publicly-held and privately-held companies.
The government also broadened the jurisdiction of the law to include nationality so Canadian companies and individuals involved in the bribery of foreign public officials are subject to Canadian law regardless of where the bribery took place.
The consequences for violating the Act may include up to 14 years in prison for individuals, unlimited fines for corporations and exclusion from competing for government contracts for up to 10 years.
Compliance Made Easy
Hiperos 3PM ABAC Accelerator helps companies simplify and streamline CFPOA compliance by centralizing third party information and workflows, automating and documenting due diligence, assessment and scoring of third parties, managing only third parties posing corruption risks and monitoring risk factors continuously with data directly from leading data providers. All material ABAC issues and actions taken are recorded in a central “book of record” with a verifiable audit trail. Learn more