Prior to the passing of the foreign corrupt practices act, unethical corporate behavior was regulated by the _____, which required full disclosure of funds that were taken out of or brought into the united states.
It was the Bank Secrecy Act that regulated the the unethical and criminal corporate behavior. The purpose of the act was prevent money laundering operations by having banks assist government agencies in their efforts to stop and prevent these kind of practices. Among other obligations banks reported suspicious activities to the authorities.
The Bank Secrecy Act governed these practices. This was done as a way of making sure that all funds going into or leaving the United States by corporations were being used in ways that were ethical and not being used to fund corrupt or inhumane practices.
