Financial crime expert Martin Woods explores what happens when the annual bonus causes employees to disregard their values for want of a dollar.
Anti-Bribery
Posted inAnti-Bribery
SFO closes bribery investigation into ABB
The U.K. Serious Fraud Office closed its bribery investigation into power and automation technology provider ABB after concluding the case “did not meet the relevant test for prosecution.”
Posted inAnti-Bribery
Josh Drew led by example in getting VEON through DPA
CW’s Compliance Comeback of the Year Josh Drew, group chief ethics & compliance officer at VEON, discusses the challenges he faced when rebuilding the company’s ethics and compliance program under a monitor’s watchful eye.
Posted inAnti-Bribery
Herbalife nears $123M FCPA resolution
Dietary supplement maker Herbalife said in a regulatory filing it has set aside a total of $123 million in accrued liability concerning SEC and DOJ investigations into alleged violations of the Foreign Corrupt Practices Act in China.
Posted inAnti-Bribery
Justice Department to recover more than $49M involving 1MDB
The Department of Justice reached a settlement to recover more than $49 million in assets associated with the international money laundering and bribery scheme involving Malaysia’s state development fund 1MDB.
Posted inAnti-Bribery
At urging of compliance committee, Samsung head apologizes for bad behavior
Jay Lee admitted Samsung “has not strictly complied with laws and ethics” at a press conference organized by the company’s new compliance oversight committee.
Posted inAnti-Bribery
Development bank bans Brazilian company for paying kickbacks
A Brazilian construction company that paid nearly $50 million in kickbacks has been banned from participating in Inter-American Development Bank-funded projects for more than two years.
Posted inAnti-Bribery
Analysis: A case study on why following steps on ABC compliance is so important
If there is an A-Z compliance procedure to follow, don’t stop at X or miss out LMN. Adhere to the procedure and preserve the integrity of your firm and those honest people who work within the rules.
Posted inAccounting & Auditing
Eni to pay $24.5M to resolve FCPA charges
Italian oil company Eni will pay $24.5 million to settle SEC charges that it violated the Foreign Corrupt Practices Act with regard to the award of certain contracts to its former subsidiary Saipem in Algeria.
Posted inAnti-Bribery
Ex-exec charged, but Goldman Sachs avoids FCPA liability for due diligence efforts
The SEC announced charges against a former Goldman Sachs exec for violating the anti-bribery provisions of the FCPA, but the firm was not charged in the case because of the due diligence measures it took.
