Anti-Bribery


Plane2020Plan

Bombardier’s compliance program progressing, says review

2020-02-18T17:54:00+00:00By

A recent review of Bombardier’s compliance policies and procedures details how the Canadian multinational aerospace and transportation company is “working towards having a best-in-class program.”

Airbus

Airbus contractors feeling ripple effect from record fine

2020-02-12T20:34:00+00:00By

Airbus is free to go about its business after paying a record fine to three anti-corruption agencies for widespread bribery, but the trouble is only beginning for some of its implicated contractors.

Fines

Study: Post-financial crisis fines against financial institutions hit $36B

2020-02-11T19:39:00+00:00By

Global fines and penalties against financial institutions hit $36 billion last year, as ramifications from the financial crisis continue to reverberate throughout the financial services industry, according to a new report.

columnist icons

Confronting ‘willful intent’ in third-party corruption cases

2020-02-04T20:03:00+00:00By

Even as companies continue to agree to multi-billion-dollar settlements related to the corrupt acts of third parties, managing the risks associated with them nevertheless eludes many compliance departments.

columnist icons - kyle

Trump’s efforts to weaken FCPA bad news for compliance

2020-02-04T16:10:00+00:00By

If President Trump gets his way and the FCPA loses its bite, compliance officers would lose a valuable instrument in their fight to keep businesses on the right side of an ever-blurring line between right and wrong.

AirAsia

AirAsia on defense after Airbus-related bribery allegations

2020-02-03T21:27:00+00:00By

AirAsia is doing damage control after executives at the budget airline were referenced as recipients of a $50 million bribe from plane maker Airbus in the latter’s $4 billion global bribery settlement.

Airbus

Airbus resolves global bribery scandal for record $4B

2020-01-31T22:18:00+00:00By

Airbus has agreed to pay a total of $4 billion in penalties split between the United States, United Kingdom, and France—the world’s largest global resolution for bribery.

Airbus

Airbus announces resolution of global corruption case

2020-01-28T18:38:00+00:00By

Airbus confirmed it has reached a deal with authorities in the United States, the United Kingdom, and France to resolve long-running allegations of bribery and corruption. The settlement could reportedly be worth billions.

CPIMap2019

TI reveals political power correlation to corruption

2020-01-28T17:02:00+00:00By

Lack of campaign finance transparency and increased perceptions of political power among the wealthy are factors that correlate with a high risk of corruption according to Transparency International’s 2019 Corruption Perceptions Index.

Ericsson

Ericsson discloses E&C enhancements since $1B FCPA settlement

2020-01-27T21:20:00+00:00By

Ericsson in a recent regulatory filing disclosed in more detail what improvements it has made to its ethics and compliance program following its $1 billion settlement with U.S. authorities last year concerning violations of the Foreign Corrupt Practices Act.

LegalMicroscope

SFO guidance could help companies combat U.K. Bribery Act charges

2020-01-23T20:25:00+00:00By

New internal guidance from the U.K. Serious Fraud Office outlines what the regulator considers in determining if a company’s compliance procedures are adequate enough to defend against U.K. Bribery Act charges or qualify for a deferred prosecution agreement.

Samsung

Samsung establishes compliance oversight committee

2020-01-09T19:42:00+00:00By

Samsung Group has announced its intent to establish a corporate compliance oversight committee as the company seeks to clean up its tarnished reputation following a slew of scandals.

Casino

Casino operators in Japan must gamble on compliance risks

2020-01-06T18:48:00+00:00By

Japan’s plans to launch a casino industry have been marred recently by a widening bribery scandal that highlights the compliance risks associated with the operation.

columnist icons

Top ethics and compliance failures of 2019

2019-12-27T17:13:00+00:00By

From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.

SFO building

SFO confirms DPA with Güralp Systems after three acquitted

2019-12-23T15:30:00+00:00By

The founder and two former employees of Güralp Systems were acquitted of charges they conspired to bribe a South Korean public official, making it the latest corruption case in which the U.K. Serious Fraud Office failed to secure individual convictions.

Investigate

SFO latest to investigate Glencore over bribery concerns

2019-12-09T18:53:00+00:00By

Glencore announced it is under investigation by the U.K. Serious Fraud Office over suspicions of bribery, making it the third investigation the multinational commodity trading and mining company is now facing.

FCPA-July

Ericsson finalizes $1B FCPA settlement

2019-12-09T16:14:00+00:00By

Swedish telecom giant Ericsson has entered a $1 billion settlement with U.S. authorities to resolve a long-running investigation into violations of the FCPA that spanned 17 years and several geographies and involved high-level executives.

Shipping

Samsung Heavy Industries to pay $75M in foreign bribery case

2019-11-25T20:21:00+00:00By

Samsung Heavy Industries will pay total criminal penalties of $75.5 million to enforcement authorities in the United States and Brazil to resolve violations arising out of a bribery scheme in Brazil.

Rail yard

Alstom U.K. fined $20.8M for role in long-running bribery case

2019-11-25T19:04:00+00:00By

Alstom Network U.K., the British subsidiary of the French rail and power company, has been ordered to pay a total of £16.4 million (U.S. $20.8 million) for bribes it paid to win a contract to supply trams in Tunisia.

Bribe

U.S. trending up in new TRACE matrix bribery report

2019-11-18T19:03:00+00:00By

The latest edition of TRACE International’s annual Bribery Risk Matrix shows many of the same countries named in last year’s report are still struggling with business-related bribery risk. One country on the rise: the United States.

China money

Former Herbalife execs charged with FCPA violations

2019-11-15T19:21:00+00:00By

The DOJ has charged two former executives of Herbalife with violations of the Foreign Corrupt Practices Act for bribing Chinese government officials for over a decade and then trying to cover up the illicit payments.

Oilfield

Unaoil execs plead guilty for roles in global bribery scheme

2019-11-01T17:48:00+00:00By

The former CEO and chief operations officer of Monaco-based Unaoil have pleaded guilty for their roles in a scheme to corruptly facilitate millions of dollars in bribe payments to officials in multiple countries.

Money

DOJ recovers $700M in 1MDB scandal

2019-10-31T18:28:00+00:00By

Jho Low, a Malaysian businessman-turned-fugitive, has agreed to forfeit more than $700 million worth of assets that he and his family allegedly misappropriated from Malaysian’s sovereign-wealth fund, 1MDB.

world map index

Compliance lessons from recent nine-figure FCPA settlements

2019-10-24T15:46:00+01:00By

Walmart, TechnipFMC, Fresenius—just to name a few—have all fallen prey to the Foreign Corrupt Practices Act in a record year of jacked-up enforcement and sky-high penalties.

Sponge launches anti-bribery training game

2019-10-17T17:59:00+01:00By GRC Announcements

Sponge has launched Anti-Bribery Sorted, a training game designed to help organizations combat corruption and protect corporate reputation.

2nd Annual APAC Conference took place in Singapore on 16-17 October

Singapore regulator: Technology creates both challenges, opportunities

2019-10-16T13:22:00+01:00By Compliance Week

The evolution of technology is enabling myriad capabilities for regulatory and financial crime compliance, but it is also presenting complex financial crime risks, according to a representative from the Monetary Authority of Singapore (MAS) at the International Compliance Association’s second Asia Pacific (APAC) conference this week in Singapore.

Take note

Compliance lessons from Quad/Graphics’ $10M FCPA settlement

2019-10-01T16:22:00+01:00By

Quad/Graphics will pay $10 million to resolve SEC charges that it violated the Foreign Corrupt Practices Act by engaging in widespread bribery schemes in Peru and China, but the compliance lessons are priceless.

Bribe

Westport Fuels, former CEO pay $4.1M in FCPA case

2019-09-30T19:46:00+01:00By

Westport Fuels Systems and its former CEO have reached a $4.1 million settlement with the SEC for violating the Foreign Corrupt Practices Act by paying bribes to a foreign government official in China.

Cognizant

Third Cognizant executive settles FCPA charges

2019-09-17T18:43:00+01:00By

A third former executive at Cognizant has settled charges with the SEC for violating the FCPA by participating in a scheme to bribe an Indian government official.

/web/img/field/image/sec_0.jpg

SEC closes FCPA probe into Ciena

2019-09-16T15:37:00+01:00By

Ciena says the SEC advised the company it does not intend to recommend an enforcement action in connection with a previously disclosed investigation into potential violations of the FCPA.

Jay Clayton

SEC’s Clayton calls out dearth of global assistance in battling corruption

2019-09-10T20:27:00+01:00By

Is the SEC tired of being a global cop? In a speech Monday, SEC Chair Jay Clayton rallied against a “continuing lack of global commitment” to combatting offshore corruption.

Crane

Odebrecht to make $50M in charitable contributions under settlement

2019-09-09T15:18:00+01:00By

Brazil-based construction and engineering company Odebrecht has committed to make $50 million in total charitable contributions as part of a settlement reached to resolve allegations of bribery.

DOJ

DOJ closes FCPA probe into Misonix

2019-08-21T14:55:00+01:00By

The DOJ has now closed its investigation into medical device company Misonix—about a month after the SEC closed its probe—without bringing enforcement actions. The FCPA investigation still resulted in some extensive anti-corruption compliance reforms.

Avianca

Avianca discloses internal FCPA investigation

2019-08-19T14:19:00+01:00By

Avianca Holdings disclosed in a securities filing that it is investigating possible violations of the U.S. Foreign Corrupt Practices Act concerning free and discounted airline tickets and upgrades given to government officials in certain countries.

NCAHeadquarters

Suspecting illicit assets, British police freeze record $121M

2019-08-15T14:33:00+01:00By

The U.K.’s National Crime Agency announced it has frozen eight bank accounts containing more than £100m (U.S. $121 million), which it suspects derived from bribery and corruption overseas. This represents the largest amount of money frozen to date.

Ruling

A critical review of the SFO’s DPA process

2019-08-09T17:14:00+01:00By

Companies considering entering a deferred prosecution agreement with the U.K. Serious Fraud Office might instead want to take their chances with a trial following the outcomes of a trio of recent high-profile corruption cases.

Fragrance

International Flavors and Fragrances discloses bribery investigation

2019-08-07T17:34:00+01:00By

International Flavors and Fragrances says it is investigating potential improper payments made in Russia and Ukraine by an Israeli-based company it acquired last year.

JusticeDepartment

New legislation would criminalize extortion by foreign officials

2019-08-05T15:50:00+01:00By

The Justice Department might get some new powers under legislation proposed by the U.S. House of Representatives that criminalizes extortion by foreign officials.

FCPA-July

3M discloses FCPA probe

2019-07-30T13:54:00+01:00By

3M said it is conducting an internal investigation into potential violations of the Foreign Corrupt Practices Act concerning suspicious travel activities and related recordkeeping issues with regard to marketing efforts in China.

Alstom

Appeals Court upholds bribery conviction of Alstom Network

2019-07-23T19:43:00+01:00By

The Criminal Division of the U.K. Court of Appeal has upheld the April 2018 conviction of Alstom Network UK over a bribery case concerning an infrastructure contract in Tunisia.

refinitiv 300x200

Webcast: Anti-Bribery and Corruption Challenges, Trends and New Lines of Defense

2019-07-23T16:30:00+01:00Provided by

Experts from Refinitiv and ProcessUnity discuss the types of risks facing companies today; how to tackle third-party risks using data, technology, and automation; and best practices for implementing processes and procedures for integrated, ongoing due diligence.

Walmart

Five compliance lessons from Walmart’s FCPA settlement

2019-07-22T13:29:00+01:00By

Walmart’s FCPA settlement serves as a cautionary tale for chief compliance officers everywhere of what not to do, but also on how to successfully redress underlying problems.

AfricanCurrency

Report: Corruption worsening in Africa

2019-07-15T14:39:00+01:00By

Most African citizens believe corruption is getting worse in their country and that their government is doing a bad job tackling it, according to the 10th edition of the “Global Corruption Barometer – Africa.”

Technip

Compliance lessons from Technip’s $301.3M global foreign bribery settlement

2019-06-26T19:31:00+01:00By

TechnipFMC and its wholly owned U.S. subsidiary Technip USA will pay a combined $301.3 million settlement to resolve foreign bribery charges with authorities in the United States and Brazil.

Airbus

Airbus subsidiary at center of bribery probe to cease operations

2019-06-24T19:20:00+01:00By

A U.K. subsidiary of Airbus that has been at the center of a seven-year bribery investigation disclosed in an annual report that it will be ceasing business operations, meaning it could potentially avoid criminal charges in connection with the matter.

Walmart

Walmart agrees to $282.7M FCPA resolution

2019-06-20T19:29:00+01:00By

Walmart has agreed to pay a combined total of $282.7 million to resolve a more than seven-year investigation resulting from violations of the Foreign Corrupt Practices Act.

FirstStory

How to determine when enhanced due diligence is warranted

2019-05-15T18:17:00+01:00By

It can cost time and money and could even drown a deal. So when do the challenges and costs associated with this step outweigh the risks of not doing it?

SecondStory

Poll shows room for improvement on training third parties

2019-05-15T18:16:00+01:00By

Results from the Compliance Week and Refinitiv survey revealed some surprising facts about companies’ third-party training; based on those results, the following article offers suggestions for how to enhance the process.

ThirdStory

Identifying high-risk third parties a nuanced exercise

2019-05-15T18:11:00+01:00By

Determining which business partners to flag for enhanced due diligence all depends on the quality, and sources, of your data.

FourthStory

Dark Web grows as an investigative tool

2019-05-15T18:10:00+01:00By

A telling detail uncovered in the 2019 Survey on Anti-Bribery & Corruption was that about 6 percent of respondents said they extend their data searches into the “Dark Web.”