Study: CCOs Struggle to Navigate Anti-Bribery Risks
A new report from Compliance Week and Kroll Advisory Solutions gauged the level of confidence chief compliance officers have in their companies’ financial controls to catch books-and-records violations of the Foreign Corrupt Practices Act; according to the study, only 48 percent felt confident. See inside for more study details.
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I have often thought the facts of many Foreign Corrupt Practices Act (FCPA) enforcement actions would make the basis for a great series of crime-thriller books. But it turns out the origins of the FCPA itself are as dynamic, fast-paced and exciting as any such work of fiction.
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News BriefDOJ secures $118 million penalty in FCPA violation case tied to Guatemalan telecom firm
The parent company of a telecom subsidiary in Guatemala agreed to pay $118.2 million to settle allegations of improper payments made to government officials, but the U.S. Department of Justice chose not to impose a compliance monitor to administer the firm’s compliance with the Foriegn Corrupt Practices Act (FCPA).