All Anti-Corruption articles – Page 43
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ArticleCompliance lessons from Cardinal Health’s FCPA settlement
Cardinal Health reached an $8.8 million settlement with the SEC for violations of the FCPA concerning the operations of its former Chinese subsidiary. For prudent compliance officers, it’s a tale of how not to do business in China.
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ArticleJudge acquits Alstom exec on FCPA charges
In a setback for the DOJ, a federal judge has acquitted, in part, a former executive of French power and transportation company Alstom for his role in a foreign bribery scheme in Indonesia.
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ArticleFictitious soccer players at center of money laundering scheme
Europol, the European Union’s law enforcement agency, announced it has uncovered more than €10 million (U.S. $11 million) from fictitious soccer player transfers in a money laundering and tax evasion scheme.
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Former Alstom, Marubeni execs face FCPA charges in bribery scheme
The Department of Justice unsealed an indictment against three more individuals for their role in a multi-year, multi-million-dollar foreign bribery scheme and related money-laundering scheme in Indonesia.
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Airbus contractors feeling ripple effect from record fine
Airbus is free to go about its business after paying a record fine to three anti-corruption agencies for widespread bribery, but the trouble is only beginning for some of its implicated contractors.
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ArticleCitgo appoints new CECO amid misconduct review
Citgo announced the appointment of Jack Lynch as the company’s new chief ethics and compliance officer amid an internal probe into allegations of misconduct under prior management.
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ArticleStudy: Post-financial crisis fines against financial institutions hit $36B
Global fines and penalties against financial institutions hit $36 billion last year, as ramifications from the financial crisis continue to reverberate throughout the financial services industry, according to a new report.
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ArticlePractice Fusion to overhaul compliance after $145M kickback resolution
Practice Fusion will pay a total of $145 million to resolve criminal and civil investigations for its leading role in an opioid kickback scheme. Particularly notable are the new compliance obligations imposed upon it, which are as weighty and significant as the fine itself.
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ArticleConfronting ‘willful intent’ in third-party corruption cases
Even as companies continue to agree to multi-billion-dollar settlements related to the corrupt acts of third parties, managing the risks associated with them nevertheless eludes many compliance departments.
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ArticleFirst four ‘Excellence in Compliance Awards’ finalists revealed
Compliance Week is proud to announce its first four finalists for the “Excellence in Compliance Awards,” a newly formed program that recognizes individual achievement in one of 13 categories relating to risk and compliance.
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ArticleTrump’s efforts to weaken FCPA bad news for compliance
If President Trump gets his way and the FCPA loses its bite, compliance officers would lose a valuable instrument in their fight to keep businesses on the right side of an ever-blurring line between right and wrong.
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ArticleAirAsia on defense after Airbus-related bribery allegations
AirAsia is doing damage control after executives at the budget airline were referenced as recipients of a $50 million bribe from plane maker Airbus in the latter’s $4 billion global bribery settlement.
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ArticleAirbus resolves global bribery scandal for record $4B
Airbus has agreed to pay a total of $4 billion in penalties split between the United States, United Kingdom, and France—the world’s largest global resolution for bribery.
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Airbus announces resolution of global corruption case
Airbus confirmed it has reached a deal with authorities in the United States, the United Kingdom, and France to resolve long-running allegations of bribery and corruption. The settlement could reportedly be worth billions.
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ArticleTI reveals political power correlation to corruption
Lack of campaign finance transparency and increased perceptions of political power among the wealthy are factors that correlate with a high risk of corruption according to Transparency International’s 2019 Corruption Perceptions Index.
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ArticleEricsson discloses E&C enhancements since $1B FCPA settlement
Ericsson in a recent regulatory filing disclosed in more detail what improvements it has made to its ethics and compliance program following its $1 billion settlement with U.S. authorities last year concerning violations of the Foreign Corrupt Practices Act.
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ArticleICA announces regulatory and financial crime conference in Dubai
The International Compliance Association will host its inaugural MENA Regulatory and Financial Crime Compliance Conference in Dubai on March 1-2. His Excellency Ebrahim Obaid Al Zaabi, director general, Insurance Authority, will deliver the keynote address.
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ArticleSamsung establishes compliance oversight committee
Samsung Group has announced its intent to establish a corporate compliance oversight committee as the company seeks to clean up its tarnished reputation following a slew of scandals.
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ArticleTeva to pay $54M in FCA whistleblower settlement
Teva Pharmaceuticals has reached a $54 million settlement in a lawsuit filed by two whistleblowers over allegations the drug company bribed physicians through numerous “sham” speaker programs in exchange for prescribing Teva drugs.
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ArticleLandec discloses FCPA probe
Landec, an innovator of health and wellness solutions, has discovered and reported to U.S. regulators a “compliance issue” at its Yucatan Foods production facility in Guanajuato, Mexico. It now faces a government probe into possible FCPA violations