- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-04-02T13:33:00
The value the Department of Justice (DOJ) places on cooperation can be measured by studying penalties and agreements resulting from the agency’s long-running investigation into bribery and corruption by oil traders operating in Latin America and Africa.
The probe so far has netted more than $1.7 billion in penalties and forfeitures for violations of the Foreign Corrupt Practices Act (FCPA) related to bribery and other charges from six companies, the DOJ announced in a press release Thursday.
For cooperation credit, the companies received fine reductions of up to 25 percent and, in two cases, deferred prosecution agreements (DPAs). In at least one case, when the agency wasn’t satisfied with the level of cooperation, it let the hammer fall and exacted a larger fine and required ongoing compliance monitoring.
2024-09-11T14:16:00Z By Aaron Nicodemus
Illinois-based manufacturer John Deere will pay approximately $10 million in penalties and disgorgement to the Securities and Exchange Commission for violating the Foreign Corrupt Practices Act with bribes paid by a Thai subsidiary.
2024-08-30T13:53:00Z By Adrianne Appel
The Department of Justice declined to prosecute Boston Consulting Group for allegedly bribing Angolan officials in violation of the Foreign Corrupt Practices Act, citing the firm’s prompt self-disclosure and timely remediation.
2024-08-26T15:47:00Z By Adrianne Appel
A former trader at the U.S. affiliate of energy giant Vitol pleaded guilty to bribing officials at Petroleos Mexicanos in an effort to secure contracts.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
2025-06-16T18:04:00Z By Neil Hodge
Trying to put rules in place to oversee an industry that has grown largely outside of regulation is not without serious challenges. But the UK’s Financial Conduct Authority’s (FCA) latest consultation aims to attract industry views about how some key aspects of crypto trading should be regulated ahead of planned ...
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