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Will Olympus see FCPA trouble in China?

Tom Fox | April 13, 2016

Third-party risks are well perceived to be the highest risk in an FCPA compliance program. Yet time and time again companies either fail to follow through on the full five-step third-party management, or worse yet, simple bury their collective head in the sand when it comes to corrupt actions by third parties. The New York Times recently reported on how Japan-based Olympus managed to do both.

This was the same Olympus, by the way, which admitted in 2011 to a $1.7 billion accounting fraud. More amazingly, this new set of corruption allegations involve new management who came in to clean up the company and run it using ethical business practices. In this new corruption matter, Olympus hired a Chinese company, Anyuan, to help it fix some problems around alleged safety violations at the company’s Chinese manufacturing plant...

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