All SFO articles – Page 5

  • Article

    U.K. ruling expands scope of anti-corruption enforcement

    2016-02-23T09:00:00Z

    Image: In a first-of-its-kind ruling, the Criminal Division of the U.K. Court of Appeal ruled that bribery of foreign officials was, indeed, illegal prior to 2002, marking a notable victory for the Serious Fraud Office in its escalating battle against bribery and corruption. ““Anybody thinking that prosecution under these pre-Bribery ...

  • Blog

    U.K. Printing Company to Pay £2.2 Million in Bribery Case

    2016-01-11T10:30:00Z

    The Southwark Crown Court in London last week ordered U.K. printing company Smith and Ouzman to pay a total of £2.2 million for making corrupt payments. The sentence and conviction followed a four-year investigation by the U.K. Serious Fraud Office.

  • Article

    Year in Review: Regulatory Enforcement in Europe

    2016-01-05T11:00:00Z

    Image: For compliance officers in Europe, 2015 has been a big year. Aside from focusing on reporting wrongdoing and promoting a speak-up culture, watchdogs have been keeping compliance practitioners busy with a barrage of regulations that show no sign of easing. As compliance officers wonder to what degree the past ...

  • Article

    Lessons From the SFO’s First Deferred-Prosecution Agreement

    2015-12-15T12:30:00Z

    The U.K. Serious Fraud Office struck its first-ever deferred-prosecution agreement with Standard Bank in November, giving companies some much-needed guidance on how to disclose misconduct. The SFO’s decision to use DPAs is part of a larger undertaking to put a quick end to corporate criminal cases and encourage cooperation between ...

  • Blog

    SFO: Sweett Group Admits to Bribery

    2015-12-04T15:30:00Z

    The U.K. Serious Fraud Office this week confirmed that Sweett Group, a British property management, construction and surveying company, admitted to violating the Bribery Act, regarding conduct in the Middle East.  The resolution would mark the SFO’s first conviction since enactment of the Bribery Act in 2011. More inside.

  • Blog

    First DPA Under U.K. Bribery Act

    2015-12-01T13:30:00Z

    Image: On Monday the U.K. Serious Fraud Office announced its first deferred-prosecution agreement under the Bribery Act for bribes ICBC Standard Bank Plc paid to government officials in Tanzania intended to sway their favor toward a proposed $600 million private placement. Inside, our anti-corruption blogger Tom Fox explores what lessons ...

  • Blog

    ICBC Standard Bank Gets First U.K. Deferred Prosecution Agreement

    2015-11-30T14:45:00Z

    ICBC Standard Bank has become the recipient of Britain's first deferred prosecution agreement, the U.K. Serious Fraud Office announced today. The bank will pay a total of $32.6 million in fines and repayments of bribery payments resulting from allegations of bribery in Tanzania. “This landmark DPA will serve as a ...

  • Blog

    CW Europe: A View From the U.K. Serious Fraud Office

    2015-10-28T04:45:00Z

    Image: The general counsel of Britain’s Serious Fraud Office, speaking at the Compliance Week Europe conference in Brussels this week, said the SFO hopes to have several deferred-prosecution agreements in place by the end of this year for companies the agency has been investigating for misconduct. Alun Milford provided no ...

  • Blog

    Soma Oil & Gas Faces Corruption Probe by SFO

    2015-08-14T12:30:00Z

    The U.K. Serious Fraud Office recently announced that it has opened a criminal investigation into London-based Soma Oil & Gas Holdings relating to allegations of corruption in Somalia. Soma Oil & Gas confirmed that it has been informed by the agency of the investigation. More inside.

  • Article

    Lessons From the BHP Billiton Case

    2015-06-02T13:15:00Z

    Image: If compliance officers needed another reminder that the FCPA’s books-and-records provisions are still a dangerous trap for global businesses, look no further than the SEC’s recent $25 million fine against BHP Billiton. Observers say it offers valuable lessons in the SEC’s expansive interpretation of the law. “A check-the-box compliance ...

  • Blog

    SFO Brings Corruption Charges Against Former Alstom Compliance Executive

    2015-05-12T09:45:00Z

    Image: Title: LainéBritain’s Serious Fraud Office has filed corruption charges against a former head of ethics and compliance at Alstom, the beleaguered French firm subject to anti-bribery investigations in multiple countries. The charges against Jean-Daniel Lainé stem from bribes Alstom allegedly paid in the 2000s to supply trains to the ...

  • Blog

    SFO: Alstom to Face More Criminal Charges

    2015-05-08T15:15:00Z

    The U.K. Serious Fraud Office recently announced that it has brought fresh charges against Alstom Network U.K. and an Alstom employee in phase three of its ongoing investigation. The latest charges concern allegations of corruption for the supply of trains to the Budapest Metro. Details inside.

  • Article

    Lessons to Learn From the Alstom Fiasco

    2015-01-13T11:45:00Z

    The record $772 million criminal penalty reached between the Justice Department and French power and transportation giant Alstom is yet another real-life example of corporate governance gone haywire. Abounding with cover-ups and an overall lack of due diligence, “The Alstom case is the antithesis of the hallmarks of an effective ...

  • Blog

    SFO Charges Alstom With Fraud

    2014-07-24T12:15:00Z