Anti-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.”

ExecSummaryTop

Anti-bribery and anti-corruption survey

2019-05-15T18:09:00+01:00By

The 2019 Survey on Anti-Bribery & Corruption explores everything from the monitoring of third parties to the evaluation of training programs.

Refinitive abc img

2019 Survey on Anti-Bribery and Corruption

2019-05-15T17:46:00+01:00Provided by

In early 2019, Compliance Week and Refinitiv jointly conducted a special benchmark report on anti-bribery and anti-corruption compliance practices.

EuroMoney

TRACE: How the GDPR interferes with anti-corruption compliance

2019-05-06T19:48:00+01:00By

Anti-bribery business association TRACE has submitted its overview of new issues that have emerged in the fight against foreign bribery due to implementation of the EU’s General Data Protection Regulation.

Broadway

SEC charges compliance officer in ticket resale scam

2019-05-01T20:46:00+01:00By

The SEC has charged a CCO with perpetuating a previously charged scheme run by his cousin that involved stealing millions of dollars from investors.

cri group a pilot project cover img

A pilot project: Addressing the global outcry against corrupt business practices

2019-04-26T20:25:00+01:00Provided by

As the outcry on bribery and corruption continues to tighten its grip around rogue players in the private and public business sectors, organizations ramp up their efforts to develop effective frameworks to prevent, detect and report corruption.

Uber

Uber discloses its bribery and corruption risk

2019-04-15T17:38:00+01:00By

In its first-ever filing with the SEC, ride-sharing company Uber discussed its bribery and corruption risks, including an ongoing investigation by the Department of Justice into potential violations of the Foreign Corrupt Practices Act.

CorruptGlobeFeature

Fresenius Medical Care to pay $231M to resolve FCPA case

2019-04-01T18:22:00+01:00By

German healthcare company Fresenius Medical Care reached a $231 million settlement with U.S. authorities for violations of the Foreign Corrupt Practices Act for participating in various corrupt schemes across multiple countries that went undetected for more than a decade.

Nokia

Nokia discloses Alcatel-Lucent compliance issues

2019-03-22T15:06:00+00:00By

Following its 2016 acquisition of Paris-based telecommunications company Alcatel-Lucent, Nokia disclosed in a filing with the Securities and Exchange Commission that it has “been made aware of certain practices relating to compliance issues at the former Alcatel-Lucent business that have raised concerns.”

USCcrop

Anatomy of a college cheating scandal, and the resolve to fix it

2019-03-20T16:53:00+00:00By

In response to the nationwide college admissions scandal, victimized universities are speaking out and sharing the steps they’ve taken to stop similar behavior from happening in the future.

Globalbribery

A global look at anti-bribery enforcement activity

2019-03-20T15:14:00+00:00By

TRACE International’s 2018 Global Enforcement Report serves as an insightful resource for companies seeking information on which countries are enforcing anti-bribery laws and which countries are beleaguered by bribery and corruption issues.

Bribe

Hempel resolves bribery case with European authorities for $33.3M

2019-03-13T20:18:00+00:00By

Global coatings manufacturer Hempel has reached a settlement with Danish and German authorities and agreed to a fine of 220 million Danish krone (U.S. $33.3 million) concerning bribery payments made to ship managers in Germany.

Rosenstein

A glimpse into the Department of Justice’s ethics and compliance operations

2019-03-08T22:18:00+00:00By

Deputy Attorney General Rod Rosenstein in public remarks this week provided a glimpse into how the Department of Justice conducts its own ethics and compliance operations.

MTS-shop

MTS settles FCPA case with SEC, Department of Justice

2019-03-07T16:49:00+00:00By

Russian telecommunications provider Mobile TeleSystems (MTS) has reached settlements with both the Department of Justice and the Securities and Exchange Commission to resolve charges that it violated the Foreign Corrupt Practices Act to win business in Uzbekistan.

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Shell: Dutch prosecutors to bring criminal charges

2019-03-04T13:45:00+00:00By

Oil and gas company Royal Dutch Shell announced that Dutch prosecutors are preparing to levy criminal charges against it concerning a long-running corruption scandal in Nigeria.

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Two indicted in PDVSA bribery probe

2019-02-27T11:30:00+00:00By

A sales representative and a former president of a U.S.-based company are facing charges for their alleged roles in a scheme to corruptly secure business advantages from Venezuela’s state-owned and state-controlled energy company, PDVSA.

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Fresenius Medical Care reaches ‘agreement in principle’ in FCPA case

2019-02-27T09:30:00+00:00By

German healthcare company Fresenius Medical Care has reached an “agreement in principle” with U.S. authorities concerning an investigation into possible violations of the Foreign Corrupt Practices Act, booking charges of €224 million (U.S. $255 million) as of Dec. 31, 2018.