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 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.
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.
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.
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.
The Justice Department might get some new powers under legislation proposed by the U.S. House of Representatives that criminalizes extortion by foreign officials.
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.
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.
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’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.
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.”
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.
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 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.
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?
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.
Determining which business partners to flag for enhanced due diligence all depends on the quality, and sources, of your data.
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.”
The 2019 Survey on Anti-Bribery & Corruption explores everything from the monitoring of third parties to the evaluation of training programs.
In early 2019, Compliance Week and Refinitiv jointly conducted a special benchmark report on anti-bribery and anti-corruption compliance practices.
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.
The SEC has charged a CCO with perpetuating a previously charged scheme run by his cousin that involved stealing millions of dollars from investors.
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.
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.
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.
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.”
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.
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.
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.
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.
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.
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.
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.
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.