Summer temperatures are just starting to arrive, but anti-corruption fervor is already sizzling. Headlined by a wave of extraordinary and even historic developments in enforcement of the Foreign Corrupt Practices Act, the month of May was a blistering lead-in to this summer. And turning up the heat even more, Britain’s long-awaited Bribery Act finally goes […]
Anti-Bribery
Posted inAnti-Bribery
FCPA Officers Aim for Global Anti-Corruption Program
Amid headlines trumpeting the first trial conviction under the Foreign Corrupt Practices Act and record criminal penalties doled out by the Justice Department, it’s no surprise that anti-corruption is top-of-mind for many compliance officers today. Now with just one month away from the U.K. Bribery Act going into effect, compliance officers say they are revamping […]
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Fight Against Corruption Losing Momentum
*/ /*–>*/ International efforts to tackle bribery and corruption are losing momentum, according to Transparency International (TI), an anti-corruption group. Every year TI monitors global compliance with the OECD’s benchmark anti-bribery convention. Its latest report shows that for the first time in seven years there has been no increase in the number of countries enforcing […]
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A Conversation With Rio Tinto’s Top Compliance Minder
As part of our occasional series of conversations with compliance executives and others influential in the corporate governance world, Compliance Week caught up with Neville Tiffen, global head of Compliance for mining company, Rio Tinto. Tell us a little about Rio Tinto. Rio Tinto is a global mining company headquartered in London. Most of our […]
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Fraud Reporting Near Record Levels
An intense enforcement environment and a slew of new regulations is pushing reporting of fraud to near-record levels. According to a study by The Network and BDO Consulting, incidents of fraud, including reports on corruption and fraud, misuse of assets, conflicts of interest, and Foreign Corrupt Practices Act violations by employees went up last quarter […]
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Latest FCPA Trial Sheds New Light on State-Owned Companies
Executives at Lindsey Manufacturing gambled earlier this month by going to trial with the Justice Department over Foreign Corrupt Practices Act charges against the company. They lost. On May 10, a federal district court jury convicted the company and two senior executives of bribing government officials in Mexico—the first time in the FCPA’s 34-year history […]
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Companies Lacking in Facilitation Payments Policies
Companies worried about facilitation payments in light of Britain’s new Bribery Act and other similar laws may want to review their policies on the subject—that is, assuming they even have one. A review of the codes of conduct at 40 oil and gas companies—which are especially prone to encounter requests for facilitation payments, considering the […]
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U.S. Execs Lack Bribery Act Knowledge
*/ /*–>*/ Three quarters of U.S. business professionals do not know enough about Britain’s tough new anti-bribery laws, even though they take effect in less than three months, according to a survey from Deloitte. The firm said the Bribery Act was likely to be the biggest regulatory change in global anti-corruption law since the U.S. […]
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Lessons From J&J’s $70 Million FCPA Settlement
Companies searching for guidance on good Foreign Corrupt Practices Act compliance can learn a thing or two from the Johnson & Johnson case—not only about what the company did right, but where it went wrong, too. The pharmaceutical and healthcare giant agreed to pay a total of $70 million in a settlement with the Justice […]
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China Passes Anti-Bribery Law
China, where many companies get tripped up for violating the U.S. Foreign Corrupt Practices Act, has passed an anti-bribery law of its own. The measure, passed in late February, is an exercise in brevity. While the FCPA weighs in at 16 pages, and the U.K. Bribery Act runs about 17 pages, the Chinese anti-bribery law […]
