When corruption-plagued Brazilian energy giant Petrobras overpaid for a Houston-area refinery by some $950 million, it raised more than a few eyebrows. And when that refinery suffered a large explosion and fire recently, it showed that failure to practice good safety and failure to practice good business ethics go hand-in-hand.
Tom Fox
Thomas Fox has practiced law for over 40 years. Tom writes the daily award-winning blog, the FCPA Compliance and Ethics blog and founded the Compliance Podcast Network. Tom leads the discussion on AI in compliance through his best-selling book Upping Your Game. He has 38 other books on the use of AI in compliance and business ethics, leadership including the seminal work, The Compliance Handbook, with its 7th edition coming out in 2025. He is the founder of the award-winning Compliance Podcast Network.
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Posted inAnti-Bribery
Another bank under FCPA scrutiny for its hiring practices
Financial services providers face unique corruption risks when seeking to win business in international markets. This includes a traditional form of back-scratching: the hiring of children or other close family members of prominent foreign officials. Only now the SEC has made it clear that such practices can and will invite FCPA scrutiny.
Posted inAnti-Bribery
FIFA dribbles up the pitch toward reform
As FIFA continues to battle its landmark corruption scandal, it has elected a new President and passed a series of structural and process reforms to bring the organization into the 21st century and demonstrate to U.S. authorities that it really is going to change from its prior culture. But is it enough?
Posted inFrom the Archive
Fighting corruption in the light of day
Image: FIFA isn’t the only major sporting organization with corruption problems. The United States Tennis Association has created a problem for itself by allowing an umpire, who was suspended for corruption, to continue to officiate at the 2015 U.S. Open. Inside, CW’s corruption blogger Tom Fox examines USTA’s reasoning behind such a move. Fault, indeed.
Posted inFrom the Archive
When are campaign contributions FCPA violations?
A recent article in the Financial Times by Simon Kuper, titled “How to buy a foreign election” reminded me that the FCPA specifically makes illegal more than simply bribing a foreign government official or some employed by a state owned enterprise to secure an improper advantage. The FCPA also makes illegal bribes paid to “any […]
Posted inAnti-Bribery
Justice Department concludes $795M FCPA action against VimpelCom
Image: Dutch telecom giant Vimpelcom will be hit with nearly $800M in fines, penalties, and disgorgement of profits and prejudgment interest from its huge FCPA case where it spent millions to bribe its way into the Uzbekistan marketplace. Tom Fox looks at the details of the Justice Department’s FPCA enforcement action.
Posted inFrom the Archive
Corruption can give you a very bad few days
Title: Corruption can give you a very
You know it is going to be a bad day when you see your company’s name splashed across a BBC investigative report into alleged payment of bribes to secure business contracts. However, your day can get considerably worse when US congressmen, call for the Justice Department to investigate your company for possible violations of the Foreign Corrupt Practices Act.
Posted inAnti-Bribery
€30 million for cup of tea? Good work if you can get it
FCPA blogger Tom Fox looks at an unfolding scandal that involves a murdered Mongolian paramour, a contract for submarines, embattled Malaysian Prime Minister Najib Razik, middleman Abdul Razak Baginda, and the most lucrative cup of tea in recent memory.
Posted inFrom the Archive
SciClone Settles with the SEC on FCPA Enforcement Action
Title: SciClone Settles with the SEC As SciClone Pharmaceuticals settles with the SEC for FCPA violations committed by a Chinese subsidiary, Tom Fox considers how the finer points of granting favors to government officials merits greater compliance scrutiny.
Posted inAnti-Bribery
The Greek Culture of Corruption
Envelopes stuffed with cash and entire industries poised to take action against the first sign of whistleblowing are just two of the hallmarks of the endemic corruption that bedevils the entire Greek economy. What can be done when compliance isn’t just absent in a country, but actively avoided as a matter of tradition?