All Anti-Bribery articles – Page 25
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What has Latvia wrought?
U.S. banking regulators have long understood the connection between bribery, corruption, money laundering. and security. It will be interesting to see if the ECB and European countries are willing to become as aggressive as their U.S. counter-parts in fighting the global scourge of money laundering.
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Teradata FCPA probe ends without enforcement action
IT service management company Teradata will not be facing any enforcement action following an investigation into questionable gifts and travel expenses by one of its international subsidiaries doing business in Turkey.
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World Bank debars Pak Elektron Limited
The World Bank has debarred three companies and a former general manager for engaging in collusive practices during bidding on contracts in Pakistan.
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Former PdVSA officials face corruption-based civil lawsuit
A look at the first civil action filed in Houston for the massive PdVSA bribery and corruption that engulfed the company and those who tried to do business with it over the past few years.
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Facilitation payments under the FCPA
In addition to its restrictions, a key to FCPA compliance is accurately recording facilitation payments going forward. As with all things FCPA-related, the “document, document, document” mantra holds.
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Extortion policies under the FCPA
An extortion payment, while not a violation of the FCPA, should have its own set of policies and procedures that employees adhere to per the chief compliance officer.
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Charitable entities and compliance
The stories of Plan International USA and of Oxfam make clear the need for robust compliance programs in a non-profit charity.
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Bad days ahead for Shell and ENI?
The bribery allegations against Shell and Italian energy company ENI makes one wonder: If monies paid to a foreign government itself are now subject to scrutiny, could it open up an entirely different exposure to liability for international organizations?
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Credit Suisse discloses FCPA investigation
Credit Suisse Group said it has been responding to requests from “certain governmental and regulatory authorities” concerning potential violation of the FCPA regarding its hiring practices in the Asia Pacific region.
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Opus launches new anti-bribery compliance solution
Opus, a global compliance and risk management solutions provider, recently launched a new turnkey solution designed to dramatically simplify and speed up the ability to comply with anti-corruption regulations.
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China amends, clarifies law addressing commercial bribery
For the first time in two decades, Chinese regulators have amended the Anti-Unfair Competition Law, giving companies more clarity on what constitutes commercial bribery.
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Why is the U.S. government investigating GlaxoSmithKline now?
GlaxoSmithKline recently said U.S. enforcement agencies asked for information about third-party advisers the company hired in China during a corruption investigation in the country. The Man From FCPA asks, why now?
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Airbus to pay €81.25 million to end German corruption probe
German prosecutors have ordered Airbus to pay a fine of € 81.25 million to end a five-year bribery investigation concerning the sale of Eurofighter aircraft to the Republic of Austria in 2003.
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Novartis responds to ongoing corruption investigations
Novartis has issued a response concerning ongoing corruption investigations by both Greek and U.S. authorities.
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The intersection of cyber-security with the compliance professional
New York’s Department of Financial Services (DFS) has issued the first state level regulations on cyber-security for financial institutions, but non-financial services industries should take heed of them as well.
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The effects of corruption at home
Petrobras (of Operation Car Wash fame) will soon consider offers to sell a refinery located in Pasadena, bringing the effects of the FCPA home to the United States.
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GlaxoSmithKline: An update on SFO investigation
GlaxoSmithKline isn’t out of the weeds yet. The pharmaceutical company this week said the U.K. Serious Fraud Office has requested new information relating to an ongoing investigation, this time concerning third-party advisers engaged by the company.
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FBI international corruption squad head joins Exiger
Exiger, a global regulatory, financial crime, risk and compliance firm, appointed George “Ren” McEachern as managing director in the company’s Global Investigations Group.
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Former DOJ official joins EY's FIDS practice
Kathleen McGovern, former Senior Deputy Chief in the Criminal Division, Fraud Section, has joined Ernst & Young as a principal in its Fraud Investigation & Dispute Services practice.
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Did OSI Systems commit FCPA and securities trading violations?
OSI Systems said the SEC and Department of Justice have commenced investigations into potential violations of the Foreign Corrupt Practices Act, and also are investigating trading in the company’s securities.