SAP to pay $220M in FCPA settlements
By 
Kyle Brasseur2024-01-10T20:31:00
German-based software company SAP agreed to pay more than $220 million as part of resolutions with authorities in the United States and South Africa regarding alleged violations of the Foreign Corrupt Practices Act (FCPA).
SAP entered into a three-year deferred prosecution agreement, was assessed a criminal penalty of nearly $119 million by the Department of Justice (DOJ), and agreed to pay forfeiture of more than $103 million, the agency announced Wednesday. Portions of those amounts will be credited in line with parallel resolutions with the Securities and Exchange Commission (SEC), which announced nearly $100 million to be paid in disgorgement and prejudgment interest, and South African authorities.
The FCPA settlement between SAP and the DOJ marks the second for the agency coordinated with South African authorities, after Swiss technology company ABB in December 2022.
Related articles
-
OpinionEricsson's 'integrity journey' post-FCPA settlement top compliance triumph of 2024
It’s been a long “integrity journey” for Ericsson, according to the company’s Head of Compliance Global Affairs Alison Howell. Since settling with the DOJ over FCPA violations in 2019, the company has gone through a "business critical transformation," resulting in the end of its compliance monitorship.
-
News BriefGunvor to pay $661M to settle FCPA violations in Ecuador
Swiss-based oil trader Gunvor will pay more than $661 million as part of a plea agreement with the Department of Justice to resolve violations of the Foreign Corrupt Practices Act involving a long-running scheme to bribe officials in Ecuador to secure oil contracts.
-
News BriefRaytheon parent discloses indications of improper payments in Middle East
RTX Corp., parent company of aerospace and defense giant Raytheon, disclosed an internal investigation launched into potential improper payments in connection with contracts in the Middle East found indications of misconduct.
More from Regulatory Enforcement
-
News BriefCFPB ends probe into Meta’s financial advertising practices
Meta says it is no longer under investigation by the U.S. Consumer Financial Protection Bureau (CFPB), the latest instance of the agency scaling back enforcement under President Donald Trump.
-
News BriefTexas sues Johnson & Johnson, Kenvue over alleged misleading marketing of Tylenol
Texas Attorney General Ken Paxton sued two pharmaceutical companies for ”deceptively marketing Tylenol to pregnant mothers” despite risks linked to autism. The filing came two days before HHS Secretary Robert F. Kennedy Jr. appeared to walk back the claims.
-
News BriefCFPB scraps bad-actor registry, citing cost-benefit issues
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”