All Saudi Arabia articles

  • Airbus building

    Airbus subsidiary GPT pleads guilty to corrupt acts in Saudi Arabia


    Airbus subsidiary GPT Special Project Management will pay approximately £30.3 million (U.S. $42.1 million) after pleading guilty to corruption relating to contracts it was awarded for work carried out in Saudi Arabia.

  • Sanctions

    OFAC fines Saudi bank for Sudan/Syria sanctions violations


    The Office of Foreign Assets Control announced a $650,000 settlement with a Saudi Arabian bank for apparent violations of sanctions against Sudan and Syria related to transactions that took place via the U.S. financial system.

  • Airbus

    SFO charges Airbus subsidiary for corrupt acts in Saudi Arabia


    The U.K. Serious Fraud Office announced charges against GPT Special Project Management and three individuals concerning a criminal investigation that began eight years ago into allegations of misconduct in Saudi Arabia.

  • /img/field/image/iraqoilfield.jpeg

    SFO: Former Petrofac executive pleads guilty in bribery case


    A former executive of Petrofac pleaded guilty this week to bribery offenses in connection with an ongoing investigation by the U.K. Serious Fraud Office into the oilfield services company and its subsidiaries.

  • Blog

    Of Saudi princes and gilded cages


    If you have done business in Saudi Arabia or with wealthy Saudis over the past few years, now might be a very good time to review not only those business relationships, but also your FCPA compliance program, writes The Man From FCPA.

  • Blog

    Former Embraer sales executive pleads guilty to foreign bribery


    A former sales executive of Brazilian-based aircraft manufacturer Embraer pleaded guilty last week in connection with a scheme to pay bribes to a high-level foreign government official in exchange for assistance in securing Embraer’s sale of aircraft to Saudi Arabia’s national oil company.

  • Blog

    Saudi corruption crackdown—uncharted waters in the desert


    What does the corruption crackdown in Saudi Arabia mean for investors? Is it positive for the Kingdom of Saudi Arabia in terms of investment dollars? Should investors run toward the Kingdom now or should they shy their investment dollars away? These and many other questions are being debated now. Both ...

  • Blog

    Corruption and Saudi Arabia


    There is a reason that Transparency International ranked the Kingdom of Saudi Arabia at 62 of the 176 countries listed in its most recent Corruption Perceptions Index: The open secret is that to do business in Saudi Arabia, bribes have to be paid.

  • Blog

    The FCPA as an economic tool


    The FCPA is rarely considered as an economoic tool. But as a means of fighting corruption, however, it also helps to improve market efficiency.