S-2347 : Still Just a Bill

The "Foreign Extortion Prevention Act" (S. 2347) aims to combat international corruption by amending Title 18 of the United States Code to specifically address instances where foreign officials demand bribes. Key provisions include:

• Defining "Foreign Official": Expands the definition of "foreign official" to include officials and employees of foreign governments, senior foreign political figures, officials/employees of public international organizations, and individuals acting in official or unofficial capacities on behalf of these entities.
• Prohibiting Demand for Bribes: Makes it illegal for a foreign official (or someone selected to be a foreign official) to corruptly demand, seek, receive, or accept anything of value, directly or indirectly, from a person in the U.S., an issuer of securities, or a domestic concern, in return for influencing an official act, violating their official duty, or conferring an improper advantage to obtain or retain business.
• Penalties: Establishes penalties for violations, including fines up to $250,000 or three times the monetary equivalent of the bribe, imprisonment for up to 15 years, or both.
• Jurisdiction: Provides for extraterritorial federal jurisdiction over offenses under this section.
• Reporting Requirement: Mandates the Attorney General to submit annual reports to the Senate and House Judiciary Committees, and to post the report publicly. The report should address demands by foreign officials for bribes from entities domiciled or incorporated in the United States, U.S. diplomatic efforts to protect U.S. entities from foreign bribery, major actions taken under this section, the effectiveness of the Department of Justice in enforcing this section, and any needed resources or legislative action.
• Rule of Construction: Clarifies that the Act does not encompass conduct that would violate the Foreign Corrupt Practices Act.

In essence, the bill seeks to directly target the demand side of foreign bribery, complementing existing laws that focus on the supply side (i.e., the offering or payment of bribes).