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.

German authorities fine Volkswagen $1.2B for emissions-cheating scandal

Jaclyn Jaeger | June 13, 2018

German authorities on Wednesday fined Volkswagen a total of €1 billion (U.S. $1.2 billion)—the maximum penalty legally allowed—resulting from the company’s long-running emissions-cheating scandal.

The Prosecutor’s Office in Braunschweig found that the failings resulted in 10.7 million vehicles being sold to customers in the United States, Canada, and worldwide “with an impermissible software function” between 2007 and 2015.

“Following a thorough examination, Volkswagen AG accepted the fine and it will not lodge an appeal against it,” the company said in a statement. By accepting the fine, Volkswagen said it “admits its responsibility for the diesel crisis” and considers this a major step in putting the emissions-cheating scandal behind it.

“As a result of the administrative order imposing the fine, the active regulatory offence proceedings conducted against Volkswagen...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.