Amendment #3406 of HR 6029 - Foreign and Economic Espionage Penalty Enhancement Act of 2012

(This measure has not been amended since it was passed by the Senate on December 19, 2012. The summary of that version is repeated here.)

Foreign and Economic Espionage Penalty Enhancement Act of 2012 - Amends the federal criminal code to increase the maximum fine for economic espionage (i.e., stealing or obtaining, duplicating or conveying, or buying or possessing trade secrets without authorization, intending or knowing that the offense will benefit any foreign government, foreign instrumentality, or foreign agent) committed by individuals (from $500,000 to $5 million) or by organizations (from $10 million to $10 million or 3 times the value of the stolen trade secret to the organization).

Directs the U.S. Sentencing Commission to review and amend the federal sentencing guidelines and policy statements applicable to offenses relating to the transmission of a stolen trade secret outside of the United States or economic espionage in order to reflect the intent of Congress that penalties for such offenses reflect the seriousness of, and potential and actual harm caused by, such offenses and provide adequate deterrence. Directs the Commission to: (1) consider the extent to which such guidelines and statements appropriately account for the simple misappropriation of a trade secret; (2) consider whether additional enhancements are appropriate to account for any transmission of a stolen trade secret outside of the United States and any such transmission that is committed for the benefit of a foreign government, instrumentality, or agent; and (3) ensure reasonable consistency with other relevant directives, guidelines and statements, and related federal statutes.