Foreign Extortion Prevention Act

HR 4696, the Foreign Extortion Prevention Act, prohibits foreign officials from demanding bribes from U.S. companies while in the United States. It makes it illegal for foreign officials to seek or accept anything of value to influence official acts, omit duties, or confer improper advantages related to U.S. business. The law imposes penalties of up to $250,000, 15 years in prison, or both for violations. It also requires the Attorney General to submit annual reports detailing enforcement efforts, foreign bribery demands against U.S. entities, and resource needs for effective implementation. The bill directly affects U.S. businesses (issuers or domestic concerns) operating internationally and foreign officials who may attempt to extort them.