[ by Melanie Gretchen ] How might Wal-Mart calculate the cost of its alleged bribery scandal?  For starters, there is the alleged $24 million in illicit payments - an amount that's roughly equivalent to 2 hours’ revenue for the world’s largest retailer.  However, that figure is undoubtedly nothing more than the proverbial "tip of the iceberg."  And, if the allegations prove true - that Wal-Mart bribed Mexican officials and then covered it up - Wal-Mart can expect to experience significant shrinking across the board - in company revenue, its corp of executives, directors and employees. The Role of U.S. Law. Since 1977, the U.S. earned the reputation as the strictest nation in the world when it comes to policing bribery payments to foreign officials.  That's the year when Congress enacted the Foreign Corrupt Practices Act (FCPA).  Under the FCPA  ...

"it a federal crime for any company, officer, director, employee, or agent of a company  to pay or even offer anything of value "to any foreign official for purposes of influencing any act or decision of such foreign official in his official capacity, inducing such foreign official to do or omit to do any act in violation of the lawful duty of such official, or securing any improper advantage."

Since Obama's inauguration... the President has made enforcement of the law a priority.  Last year, Assistant Attorney General Lanny Breuer, head of the Justice Department’s criminal division, said in a speech, "There are few more destructive forces in society than the effect of widespread corruption on a people’s hopes and dreams, and I believe it is incumbent upon us to work as hard as we can to eradicate corruption across the globe." FCPA Unit. In 2010, the SEC, which shares enforcement duties with the Justice Department, set up a special FCPA unit.  Beyond its stiff penalties that include up $25 million in fines for willful violations of the law, and up to 20 years in prison for individuals, is the risk of real or perceived decimation facing a company and its management team. Siemens AG. One prime example is the multi-national electronics firm that pled guilty in 2008 in the largest FCPA case in history - agreeing to pay $1.6 billion to U.S. and German regulators.  Siemens went through wholesale management changes after the scandal, which involved $100 million in bribes in Argentina, before a federal grand jury in New York indicted 8 former executives and agents of Siemens for their alleged role in the scheme in December. Could Wal-Mart's status as world's largest retailer plummet as far? What might it have to pay when the dust has cleared?  Former SEC enforcement attorney Jacob Frenkel, now head of the white collar practice at Shulman Rogers in Washington, said in an interview on CNBC’s Squawk Box that any Wal-Mart executive or officer whose conduct can be traced to potential violations should immediately be suspended—for starters. “The issue is clean this up as quickly as possible.  Show proactive steps." For further details, go to [CNBC, 4/23/12].