Anti-Bribery


Pharmaceuticals

Novartis’ latest settlements: $729M in kickback charges

2020-07-02T16:36:00+01:00By

A week after resolving FCPA investigations for $347 million, Swiss pharmaceutical drug maker Novartis will pay another $729 million in separate settlements related to kickback schemes.

Alexion

Alexion Pharmaceuticals to pay $21M to resolve FCPA case

2020-07-02T15:26:00+01:00By

Alexion Pharmaceuticals will pay $21 million to resolve SEC charges that it violated the books and records and internal accounting controls provisions of the FCPA concerning bribes made by subsidiaries to foreign government officials.

FCPA-July

SEC, DOJ close FCPA probes into USANA

2020-07-01T15:36:00+01:00By

Usana Health Sciences disclosed in a regulatory filing that the DOJ and SEC have closed their respective FCPA investigations into the company and will not be filing any charges.

MexicoAntiCorruption

Mexico’s war on corruption an uphill battle for compliance officers

2020-06-29T15:34:00+01:00By

Companies doing business in Mexico face an uphill battle with their anti-corruption compliance efforts as the country’s government struggles to control—and, in many cases, contributes to—its endemic corruption problem.

Novartis

Novartis to pay $347M to resolve FCPA investigations

2020-06-25T19:36:00+01:00By

Novartis will pay nearly $347 million in combined criminal and civil penalty settlements with U.S. authorities to resolve all FCPA investigations into historical conduct by the company and its subsidiaries.

Oil

Swiss AG latest investigating Glencore for corruption

2020-06-23T14:18:00+01:00By

Glencore is under criminal investigation by the Office of the Attorney General of Switzerland over corruption allegations, adding to the growing list of scrutiny the multinational commodity trading and mining company is facing.

genpact300x200

CPE Webcast: Fraud and bribery risks: Preparing for a COVID-19 spike

2020-06-16T11:00:00+01:00Provided by

As businesses and employees work to re-establish stability and reset targets following the disruption caused by coronavirus, they will be more vulnerable to fraud, corruption, and regulatory violations.

LatinAmericaFlags

A country-by-country analysis of anti-corruption efforts in Latin America

2020-06-10T19:44:00+01:00By

CCOs looking to navigate the fluid corruption risk environment in Latin America will want to review a newly released report on how countries are uncovering, punishing, and deterring corruption—particularly now, amid a pandemic.

Europol

Europol launches new financial and economic crime body

2020-06-08T16:33:00+01:00By

Europol has created the new European Financial and Economic Crime Center, with the aim of enhancing operational support to EU member states and EU bodies in the fields of financial and economic crime.

Ericsson

Ericsson appoints DOJ-mandated compliance monitor

2020-06-03T15:19:00+01:00By

Ericsson announced the appointment of Andreas Pohlmann as its independent compliance monitor for the next three years in accordance with a deferred prosecution agreement reached with the Department of Justice over FCPA violations.

DangledCarrot

Analysis: When a bonus becomes less incentive, and more compromise

2020-06-02T16:17:00+01:00By

Financial crime expert Martin Woods explores what happens when the annual bonus causes employees to disregard their values for want of a dollar.

Bribe

SFO closes bribery investigation into ABB

2020-05-27T15:13:00+01:00By

The U.K. Serious Fraud Office closed its bribery investigation into power and automation technology provider ABB after concluding the case “did not meet the relevant test for prosecution.”

Drew EIC

Josh Drew led by example in getting VEON through DPA

2020-05-18T14:36:00+01:00By

CW’s Compliance Comeback of the Year Josh Drew, group chief ethics & compliance officer at VEON, discusses the challenges he faced when rebuilding the company’s ethics and compliance program under a monitor’s watchful eye.

Herbalife

Herbalife nears $123M FCPA resolution

2020-05-08T15:45:00+01:00By

Dietary supplement maker Herbalife said in a regulatory filing it has set aside a total of $123 million in accrued liability concerning SEC and DOJ investigations into alleged violations of the Foreign Corrupt Practices Act in China.

PayTheMan

Justice Department to recover more than $49M involving 1MDB

2020-05-07T15:18:00+01:00By

The Department of Justice reached a settlement to recover more than $49 million in assets associated with the international money laundering and bribery scheme involving Malaysia’s state development fund 1MDB.

Samsung

At urging of compliance committee, Samsung head apologizes for bad behavior

2020-05-06T16:49:00+01:00By

Jay Lee admitted Samsung “has not strictly complied with laws and ethics” at a press conference organized by the company’s new compliance oversight committee.

kroll 300x200

CPE Webcast: 2020 Anti-bribery and corruption emerging trends

2020-04-30T14:00:00+01:00Provided by

Compliance professionals are all too aware that the third parties they depend on to achieve success pose a significant threat to their organizations for bribery, fraud, and corruption.

kroll abc

e-Book: 2020 Anti-Bribery & Corruption Benchmarking Report

2020-04-30T09:30:00+01:00Provided by

The report explores how companies tackle their third-party risk, use “enhanced due diligence” to boost their ABC programs, and how much and what types of training they employ to tackle risk.

Bribery

Development bank bans Brazilian company for paying kickbacks

2020-04-27T15:46:00+01:00By

A Brazilian construction company that paid nearly $50 million in kickbacks has been banned from participating in Inter-American Development Bank-funded projects for more than two years.

CollapsingABCSteps

Analysis: A case study on why following steps on ABC compliance is so important

2020-04-27T14:40:00+01:00By

If there is an A-Z compliance procedure to follow, don’t stop at X or miss out LMN. Adhere to the procedure and preserve the integrity of your firm and those honest people who work within the rules.

ItalyFee

Eni to pay $24.5M to resolve FCPA charges

2020-04-20T15:34:00+01:00By

Italian oil company Eni will pay $24.5 million to settle SEC charges that it violated the Foreign Corrupt Practices Act with regard to the award of certain contracts to its former subsidiary Saipem in Algeria.

GhanaPowerPlant

Ex-exec charged, but Goldman Sachs avoids FCPA liability for due diligence efforts

2020-04-14T17:41:00+01:00By

The SEC announced charges against a former Goldman Sachs exec for violating the anti-bribery provisions of the FCPA, but the firm was not charged in the case because of the due diligence measures it took.

Gloom to Boom cover

My Compliance Library: ‘Crude Intentions’ gets at the why of compliance

2020-04-13T20:40:00+01:00By

A reading of “Crude Intentions” can go a long way toward educating those who work in high-risk regions as to the ramification of their misguided decisions.

VenezuelaCocaineTrafficking

DOJ indicts Venezuela President Maduro, others in regime

2020-03-26T18:28:00+00:00By

The DOJ unsealed indictments against Venezuelan President Nicolás Maduro and several high-ranking former and current members of his regime for alleged drug trafficking and money laundering crimes, as well as violations of the FCPA.

Bribe

TRACE: Bribery enforcement down in 2019

2020-03-20T17:32:00+00:00By

Risks in the extractives and aerospace industries are still prevalent, but the number of overall global and U.S. enforcement cases involving bribery dropped in 2019, according to the latest report from TRACE International.

Money laundering

John Wood Group reserves $46M to resolve bribery investigations

2020-03-12T17:13:00+00:00By

John Wood Group said in a regulatory filing it has reserved $46 million in a potential settlement with authorities in the United States, Brazil, and Scotland related to a bribery investigation concerning ties to Monaco-based oil services firm Unaoil.

Jail

Ex-Alstom exec gets 15 months in prison on money-laundering charges

2020-03-09T16:35:00+00:00By

Lawrence Hoskins, a former executive of French power and transportation company Alstom, was sentenced to one year and three months in prison for his role in a money-laundering scheme that prosecutors say was designed to promote violations of the FCPA.

Herbalife

Herbalife sets aside $40M in FCPA probe

2020-03-03T19:40:00+00:00By

Dietary supplement maker Herbalife said in a regulatory filing it has set aside $40 million in accrued liability concerning an investigation into the company’s compliance with the Foreign Corrupt Practices Act in China.

Cardinal Health

Compliance lessons from Cardinal Health’s FCPA settlement

2020-03-02T18:54:00+00:00By

Cardinal Health reached an $8.8 million settlement with the SEC for violations of the FCPA concerning the operations of its former Chinese subsidiary. For prudent compliance officers, it’s a tale of how not to do business in China.

Alstom

Judge acquits Alstom exec on FCPA charges

2020-02-27T18:42:00+00:00By

In a setback for the DOJ, a federal judge has acquitted, in part, a former executive of French power and transportation company Alstom for his role in a foreign bribery scheme in Indonesia.

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.