Nine of the top ten FCPA cases involve non-U.S. companies. What’s up with that?

Hobbies are important and we try to make time for ours — staring at the list of the biggest FCPA cases of all time.

Stare long enough, we’re convinced, and you can learn most of what’s important about FCPA compliance and enforcement.

Here are the current mega-cases:

What’s the first thing to notice?

Right. Nine of the ten companies are based outside the U.S. The only American-headquartered company is KBR (and its former parent Halliburton) at number two.

How did nine foreign companies land on the FCPA’s top ten list?

First, they hadn’t been taking FCPA enforcement seriously. They either weren’t doing any compliance, or compliance was window dressing to cover up their bribery. Either way, they were sitting ducks for trouble.

Second, they were easy to catch. Because they weren’t thinking much about the FCPA, they left evidence of their bribery everywhere — trails of paper, rivers of money, and scores of witnesses. Even Mr. Magoo could have cracked the cases.

And third, when caught in flagrante delicto FCPA, most didn’t cooperate with the feds early enough to cut better deals. Many honestly believed the FCPA didn’t reach them and what they did outside the U.S. Out of ignorance or denial or both, they were flat footed when the DOJ and SEC came knocking. First they delayed, then they paid.

That’s how nine foreign companies landed on the FCPA’s top ten list.

We’ll keep staring at the big cases and report back soon.

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Richard L. Cassin is the Publisher and Editor of the FCPA Blog. He can be contacted here.