Liberty Mutual agreed to give up $4.7 million in profit – the amount it earned from a bribery scheme uncovered by the government – as part of a settlement related to the Foreign Corrupt Practices Act (FCPA), according to a declination letter sent to the insurer by the U.S. Department of Justice (DOJ) last week.
The DOJ says it won’t prosecute Liberty Mutual for the FCPA violation it discovered in an investigation by the department’s Fraud Section in a letter sent to Liberty Mutual on Aug. 7. This action by the department comes after it ended a six-month enforcement pause of the FCPA back in June to review the law.
“We are pleased the DOJ acknowledged our proactive approach and affirmed our commitment to integrity and compliance across our global enterprise,” a Liberty Mutual spokesperson said in an email Tuesday. ”We welcome this conclusion and, in addition to already taking decisive steps to address this matter, will continue to uphold our values and act responsibly everywhere we do business.”