"Commitment to anti-corruption enforcement is on the rise across the globe." Elucidate with reference to Foreign Corrupt Practices Act, 1977.

In November 2017, the Department of Justice (DOJ) announced a new Foreign Corrupt Practices Act, 1977 (FCPA) enforcement policy that codified and enhanced a pilot program launched in April 2016. Under the pilot program, companies were eligible for a range of mitigation credit if they voluntarily self-reported FCPA misconduct; fully cooperated with the DOJ's investigation, including disclosing all relevant facts and identifying culpable individuals, and implemented timely and appropriate remedial measures. The pilot program, as intended, appears to have sparked an increase in the number of companies voluntarily disclosing FCPA-related misconduct to the DOJ, with seven companies receiving DOJ decisions not to prosecute due to their participation in the pilot program. As a result of the pilot program's success, the DOJ formally an enhanced version of the program to further encourage companies to voluntarily disclose FCPA-related misconduct. Under the revised policy, when a company voluntarily self-discloses misconduct, fully cooperates, timely and appropriately remediates and agrees to disgorge any ill-gotten profits, there is a presumption that the DOJ will decline to prosecute the company. That presumption will be overcome only if there are aggravating circumstances related to the nature and seriousness of the offense, such as where the company was a repeat offender or where the misconduct was pervasive, involved executive management or resulted in significant corporate profits. Recently, DOJ officials indicated that they are applying the principles of the FCPA enforcement policy as "non-binding guidance" in corporate investigations outside FCPA arena.