Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Credit Suisse to pay $47M in FCPA fines over hiring practices

Jaclyn Jaeger | June 8, 2018

Credit Suisse has become the latest financial institution to pay a penalty for violations of the Foreign Corrupt Practices Act concerning questionable hiring practices.

Credit Suisse Hong Kong said it will pay a $47 million penalty and enter a non-prosecution agreement with the Department of Justice concerning its hiring practices in the Asia Pacific region. “No criminal charges have been brought,” the company stated.

In February 2018, Credit Suisse Group said that it had been responding to requests from “certain governmental and regulatory authorities” concerning potential violations of the Foreign Corrupt Practices Act regarding its hiring practices in the Asia Pacific region between...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.