Foreign Extortion Prevention Act

The Foreign Extortion Prevention Act (S 2347) makes it a federal crime for foreign officials to demand bribes from U.S. companies or domestic entities in exchange for official favors, such as influencing decisions or retaining business. It specifically targets demands for "anything of value" made by foreign officials - whether acting officially or unofficially - through U.S. mail, interstate commerce, or while in the U.S. The law imposes penalties of up to $250,000, 15 years in prison, or both for violations. It applies to U.S. companies (issuers) and domestic concerns, and requires annual Department of Justice reports on enforcement efforts and challenges.