Anti-Bribery


Biogen

Biogen finalizes $900M settlement in false claims whistleblower suit

2022-09-27T19:04:00+01:00By

Biogen finalized a $900 million settlement concerning alleged kickbacks it paid to doctors to induce them to prescribe the company’s drugs and not those of its competitors.

Oracle

Oracle to pay $23M to settle FCPA violations in 3 countries

2022-09-27T18:06:00+01:00By

Oracle Corp. will pay more than $23 million to settle allegations laid by the Securities and Exchange Commission it violated the Foreign Corrupt Practices Act when its subsidiaries in India, Turkey, and the United Arab Emirates bribed foreign officials for business.

Philips

Philips to pay $1.3M in second kickback settlement in month

2022-09-26T20:19:00+01:00By

Philips RS North America agreed to pay approximately $1.3 million to settle charges it unlawfully paid kickbacks as part of its second resolution addressing alleged False Claims Act violations this month.

GOL_Web

Brazil airline Gol settles FCPA bribery charges for $41M

2022-09-16T19:29:00+01:00By

Brazilian airline Gol agreed to pay $41 million as part of reduced settlements addressing bribery investigations conducted by authorities in the United States and Brazil.

Bayer

Bayer to pay $40M to settle long-running false claims suits

2022-09-06T22:20:00+01:00By

Bayer agreed to pay $40 million to settle allegations its sales team paid kickbacks to hospitals and doctors for prescribing its drugs and that the pharmaceuticals company downplayed risks regarding certain of its offerings.

Philips

Philips subsidiary to pay $24M for kickback violations

2022-09-02T18:03:00+01:00By

Philips RS North America agreed to pay more than $24 million to settle allegations it paid kickbacks to medical equipment suppliers to push its products ahead of other brands that are provided to patients of federal health programs.

Alstom

Upheld ex-Alstom exec’s acquittal affirms ‘setback’ for FCPA’s reach

2022-09-01T15:04:00+01:00By

The latest development in the nearly decadelong Lawrence Hoskins court case has the potential to open the door for foreign nationals involved in aiding U.S. companies with foreign bribery schemes to escape liability under the Foreign Corrupt Practices Act, according to experts.

Essilor

Essilor agrees to $22M settlement over kickback charges

2022-08-24T19:06:00+01:00By

Essilor, a manufacturer and distributor of optical lenses and equipment, will pay $22 million to settle allegations it paid kickbacks to spur sales in violation of the False Claims Act.

Biogen

Biogen discloses $900M agreement in whistleblower kickback suit

2022-07-21T15:52:00+01:00By

Massachusetts-based biotechnology firm Biogen reached a $900 million agreement in principle to resolve a False Claims Act lawsuit brought by a whistleblower alleging the payment of unlawful kickbacks to physicians.

Herbalife

Former Herbalife exec fined $550K in FCPA case

2022-07-12T14:25:00+01:00By

Jerry Li, the former managing director of Herbalife’s China subsidiary, was ordered to pay approximately $550,000 to resolve charges brought by the SEC of violating the Foreign Corrupt Practices Act by bribing Chinese government officials over the course of a decade.

JLT UK

FCA fines JLT Specialty $9.7M for financial crime control lapses

2022-06-22T20:41:00+01:00By

The U.K. Financial Conduct Authority fined a unit of insurance broker Jardine Lloyd Thompson Group 7.9 million pounds (U.S. $9.7 million) for failing to control financial crime within its South and Central American subsidiaries.

Supply chain

Strain in your supply chain no excuse for compliance shortcuts

2022-06-16T11:23:00+01:00By

With the Russia-Ukraine war’s ever-expanding sanctions landscape, supply chain strain and risk of enforcement are sharply increasing. Speakers at a recent event hosted by Drexel University’s Kline School of Law offered best practices.

Cybersecurity offices

Survey: Cyber threats, remote work, financial pressures key ABC concerns for 2022

2022-06-15T19:06:00+01:00By

Compliance programs globally expect to shoulder more responsibilities in 2022, according to Kroll’s latest Anti-Bribery and Corruption Benchmarking Report.

Ericsson

SEC probing Ericsson over Iraq corruption scandal

2022-06-10T17:16:00+01:00By

The Securities and Exchange Commission opened an investigation into Ericsson following the Swedish telecommunications company’s acknowledgement of evidence of “corruption-related misconduct” that occurred in its Iraq operations.

Tenaris

Tenaris to pay $78M to settle FCPA charges over bribes in Brazil

2022-06-03T13:28:00+01:00By

Tenaris, a global manufacturer of steel pipe products, agreed to pay more than $78 million to the SEC to settle charges it violated the Foreign Corrupt Practices Act by paying more than $10 million in bribes to a Brazilian government official.

London dark

Law firm Dechert, SFO criticized in ENRC case ruling

2022-06-01T15:31:00+01:00By

A High Court judge found the U.K. Serious Fraud Office induced a lawyer from Dechert acting for Eurasian Natural Resources Corp. to provide it with privileged and unauthorized information.

Lafarge

Court rules Lafarge to face crimes against humanity charges

2022-05-31T11:51:00+01:00By

A French court ruled Lafarge should face charges of complicity in crimes against humanity after its subsidiary allegedly paid up to €13 million (U.S. $14 million) to armed groups—including the Islamic State—to keep its Syrian cement factory running between 2012-14.

Glencore HQ

Glencore fined $1B, placed under 3-year monitorship for FCPA violations

2022-05-24T21:47:00+01:00By

Glencore International AG, one of the world’s largest commodity traders, will be placed under a three-year compliance monitorship and pay more than $1 billion to resolve multiple investigations into alleged bribes paid in several countries over more than a decade.

KPMG UK

KPMG fined $4.3M for undocumented red flags in Rolls-Royce corruption case

2022-05-24T19:06:00+01:00By

The U.K. Financial Reporting Council announced a reduced penalty of approximately £3.4 million (U.S. $4.3 million) against KPMG for failures in its 2010 audit of car maker Rolls-Royce.

Olympus

Lessons learned from Olympus compliance monitorship

2022-05-24T11:39:00+01:00By

Christine Gordon, chief compliance officer at Olympus Corporation of the Americas, spoke about her company’s experience working with a DOJ-selected independent monitor at Compliance Week’s National Conference.

CW2022 Kenneth Polite

DOJ’s Kenneth Polite to CCOs: Tell me your compliance success stories

2022-05-17T22:56:00+01:00By

Kenneth Polite Jr., head of the Department of Justice’s Criminal Division and a former chief compliance officer, delivered a dynamic keynote address emphasizing the importance of empowering compliance to avoiding prosecution at Day 2 of Compliance Week’s National Conference.

Stericycle

Stericycle to pay $84M to resolve FCPA violations

2022-04-20T18:50:00+01:00By

Medical waste disposal company Stericycle has agreed to pay $84 million in civil and criminal penalties to resolve allegations it paid bribes to win government contracts in Brazil, Mexico, and Argentina.

Russia_United States

FinCEN advisory highlights Russian kleptocracy concerns

2022-04-16T11:17:00+01:00By

The Financial Crimes Enforcement Network issued an advisory offering red flag indicators of kleptocracy and foreign corruption, noting Russia as a country of “particular concern.”

Goldman Sachs Tower

Ex-Goldman banker convicted of FCPA violations in 1MDB case

2022-04-08T20:34:00+01:00By

Roger Ng, one of the central figures of the Goldman Sachs 1MDB scandal, was found guilty by a federal jury of conspiring to violate the Foreign Corrupt Practices Act and commit money laundering.

DOJ building

​DOJ declines FCPA prosecution of insurance broker JLT

2022-04-04T11:45:00+01:00By

The Department of Justice informed Jardine Lloyd Thompson Group Holdings it would not face prosecution under the Foreign Corrupt Practices Act despite alleged evidence of nearly $3.2 million the company paid in bribes to Ecuadorian government officials.

Coal mining

Ex-coal company exec charged with FCPA violations

2022-04-01T15:13:00+01:00By

Former coal company executive Charles Hunter Hobson was arrested on charges of violating the Foreign Corrupt Practices Act, laundering funds, and receiving kickbacks in an alleged bribery scheme in Egypt, the Department of Justice announced.

Oil

SFO dealt blow after second Unaoil conviction overturned

2022-03-25T16:39:00+00:00By

The U.K. Serious Fraud Office was dealt another blow after Paul Bond, a former sales manager at Dutch energy services company SBM Offshore, had his 42-month jail sentence overturned because the agency failed to disclose vital evidence in its Unaoil case.

Ericsson

Ericsson mum on Iraq misconduct amid ‘comprehensive review’

2022-03-23T16:13:00+00:00By

Ericsson has launched a sweeping review into evidence it uncovered regarding misconduct in Iraq and the subsequent disclosure of those findings after the Department of Justice warned the Swedish telecom of a second breach of its 2019 deferred prosecution agreement.

Bribe

TRACE: U.S. bribery enforcement continued decline in 2021

2022-03-18T18:21:00+00:00By

The number of U.S. foreign bribery enforcement actions slowed notably in 2021, while the overall pace of transnational anti-bribery enforcement actions and investigations lagged worldwide, according to TRACE International’s latest enforcement report.

Russia Ukraine economy

Banks face complex compliance risks as they attempt to exit Russia

2022-03-16T18:30:00+00:00By

Once a bank decides to withdraw or wind down its Russian operations, there are a host of thorny compliance issues to navigate in a compressed timeframe, including sanctions implications, money laundering risks, and more.

Mobile TeleSystems

MTS compliance monitorship extended one year

2022-03-09T16:53:00+00:00By

The Department of Justice and Mobile TeleSystems jointly agreed to voluntarily extend for one year the term of the Russian telecommunications company’s independent compliance monitorship in accordance with a 2019 deferred prosecution agreement.

Ericsson

DOJ informs Ericsson of second breach of DPA

2022-03-04T18:56:00+00:00By

Ericsson announced the Department of Justice determined the Swedish telecom breached its obligations under a 2019 deferred prosecution agreement again, this time for insufficient disclosure regarding conduct in Iraq.

Stericycle

Stericycle reaches $80.7M agreement in FCPA settlements

2022-02-25T20:58:00+00:00By

Stericycle, a medical waste disposal company, disclosed it expects to pay $80.7 million in principle agreements with the SEC and Department of Justice for violations of the Foreign Corrupt Practices Act concerning its operations in Latin America.

KT

KT to pay $6.3M in SEC settlement for FCPA violations

2022-02-18T20:08:00+00:00By

KT Corp., South Korea’s largest telecom operator, will pay $6.3 million in a settlement with the Securities and Exchange Commission for violations of the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act.

Ericsson

Ericsson admits ‘corruption-related misconduct’ in Iraq; may have paid ISIS

2022-02-16T22:16:00+00:00By

Ericsson announced an internal investigation uncovered evidence of “corruption-related misconduct” that occurred in the Swedish telecommunications company’s Iraq operations between 2011 and 2019.

DOJ

DOJ Fraud Section 2021 review: FCPA resolutions down

2022-02-16T20:50:00+00:00By

The Department of Justice entered into eight corporate resolutions in all of 2021, a decrease from 13 the previous year, according to the Fraud Section’s annual report. Three resolutions included violations of the Foreign Corrupt Practices Act.

Shipping boat

DOJ opinion offers take on whether ransom-like payment violates FCPA

2022-02-03T18:15:00+00:00By

A payment by a U.S.-based company to a third-party intermediary under circumstances that placed an employee’s life and well-being at “significant risk” would not trigger enforcement under the anti-bribery provisions of the FCPA, the Department of Justice stated in an opinion procedure.

Tencent

Tencent fires 70 employees in latest anti-bribery crackdown

2022-01-26T15:07:00+00:00By

Chinese gaming and social media company Tencent said it fired nearly 70 employees last year as part of its ongoing anti-graft campaign and will stop doing business with 13 Chinese firms that have violated its anti-bribery standards.

AML-Europe

Report: Financial crime fines down in 2021; AML penalties drop 78 percent

2022-01-19T16:38:00+00:00By

Fines for corporate crimes last year fell by more than half to 8.7 billion euros (U.S. $9.9 billion) from 2020’s total of €20 billion (U.S. $22.6 billion), according to a report released by research firm AML Intelligence.

FCPA-July

Report: FCPA investigations, enforcement actions hit 10-year lows in 2021

2022-01-10T22:04:00+00:00By

The number of enforcement actions brought under the Foreign Corrupt Practices Act in 2021 fell to the lowest total in a decade, according to a new report by the FCPA Clearinghouse at Stanford Law School.

Documents

Should lawyers, accountants be filing more SARs?

2021-12-28T14:32:00+00:00By Jason Morris, International Compliance Association

A study of suspicious activity reporting data in the United Kingdom suggests accountants, lawyers, estate agents, and other service-facing professionals could be doing more to contribute to the fight against financial crime.

United States European Union cooperation

Biden corruption strategy puts FCPA in spotlight overseas

2021-12-15T16:43:00+00:00By

President Joe Biden’s strategy on countering corruption shows tackling corporate abuses overseas is firmly back on the U.S. agenda. As such, European companies and executives should beware: The Foreign Corrupt Practices Act is likely to get a dusting off.

SFO

SFO integrity questioned after Unaoil conviction overturned

2021-12-13T21:21:00+00:00By

The Serious Fraud Office will be investigated by the U.K. Attorney General’s Office after a court said the agency denied a convicted former oil and gas executive the right to a fair trial.

SBM Offshore

SBM Offshore subsidiaries fined $7.6M in Swiss bribery probe

2021-11-29T16:06:00+00:00By

The Swiss Public Prosecutor’s Office ordered three subsidiaries of Dutch oil and gas services company SBM Offshore to pay a criminal penalty of CHF 7 million (U.S. $7.6 million) as part of the conclusion of a legacy bribery investigation.

ICA launches financial crime risk assessment tool

2021-11-17T22:40:00+00:00By GRC Announcements

The International Compliance Association has launched an enterprise-wide risk assessment tool to help its members better assess, document, and manage financial crime risk.

Bribe

2021 TRACE Bribery Matrix: Post-Trump U.S. still outside top 20

2021-11-17T21:50:00+00:00By

A negative trend in the U.S. business bribery risk environment that began under the Trump administration has yet to reverse, according to TRACE International’s 2021 Bribery Risk Matrix.

Honeywell

Honeywell records charge of $160M in FCPA probe

2021-10-25T18:14:00+01:00By

Honeywell International has recorded a charge of $160 million in accrued liability concerning an investigation by U.S. and Brazilian authorities as to whether the company’s use of third parties in Brazil violated the FCPA.

3x2 web graphic

Compliance Week National Conference is going back in person in May

2021-10-25T12:00:00+01:00By

Mark your calendars: Compliance Week’s National Conference in Washington, D.C. will be held in person for the first time in nearly three years from May 16-18, 2022.

Ericsson

DOJ finds Ericsson breached obligations under FCPA agreement

2021-10-22T14:27:00+01:00By

Swedish telecommunications giant Ericsson announced the Department of Justice has determined the company “breached its obligations” under a deferred prosecution agreement entered with the agency in 2019.

pwc300x200

CPE Webcast: Transaction monitoring at heart of fight against bribery, corruption, and fraud

2021-10-21T14:00:00+01:00Provided by

Combating bribery, corruption, and fraud is vital to reducing risk and maintaining compliance. Getting to the heart of financial transactions can also help you reduce unnecessary losses for your business.