Germany, the country whose engineering giant Siemens AG paid over $1.6 billion to U.S. and German regulators for a huge bribery scheme, got some recognition from the Organization for Economic Co-operation and Developments’s peer-review monitoring group for its crackdown efforts—in addition to a host of recommendations for improvement.
The agency’s working group on bribery—this time a team from Japan and New Zealand—suggested that to combat foreign payouts, German companies should develop more internal controls, strengthen the audit system, and legally protect whistleblowers, according to a March 17 report.
