Anti-Bribery


Construction site

Samsung Heavy Industries settles Brazil bribery probe for $150M

2021-02-24T15:41:00+00:00By

Samsung Heavy Industries will pay 812 million reais (U.S. $149.9 million) in a leniency deal with Brazilian enforcement authorities for acts of corruption and money laundering related to “Operation Car Wash.”

DOJSeal

Athenahealth settles kickback case for $18.25M

2021-01-29T19:46:00+00:00By

The Department of Justice announced an $18.25 million settlement with electronic health records technology vendor athenahealth for allegedly paying unlawful kickbacks to generate sales.

Samsung

Samsung heir Jay Lee returns to prison for bribery scandal

2021-01-20T20:31:00+00:00By

Jay Lee, the heir and de facto leader of family-owned conglomerate Samsung, was sentenced to prison for 2 1/2 years in a retrial regarding his role in a bribery scandal involving the former president of South Korea.

Magnifying glass

SFO closes bribery probe into British American Tobacco

2021-01-15T15:41:00+00:00By

The U.K. Serious Fraud Office announced it has concluded without prosecution its investigation into British American Tobacco regarding whistleblower allegations of corruption in the conduct of business.

Deutsche Bank

Deutsche Bank to pay $130M to settle bribery, ‘spoofing’ charges

2021-01-08T23:42:00+00:00By

Deutsche Bank has agreed to pay more than $130 million to resolve charges that it paid bribes to third parties to secure business deals in Asia and the Middle East, in addition to a separate commodities fraud “spoofing” case.

CFTC

CFTC’s foray into FCPA enforcement creates new risk factors

2021-01-05T14:52:00+00:00By

The CFTC’s recent fine ladled onto a DOJ investigation into foreign corrupt practices by Swiss energy trader Vitol S.A. should force companies with any exposure in the commodities market to reexamine their risk profiles, experts say.

FCPA

Record year of FCPA enforcement a sign of more to come in 2021

2020-12-10T13:30:00+00:00By

Major bribery scandals, record enforcement actions, unprecedented cross-border coordination and prosecutions—all this amid a global pandemic made 2020 an unforgettable year for FCPA enforcement.

Oil barrels

Energy trader Vitol to pay $164M in FCPA case

2020-12-04T18:11:00+00:00By

The U.S. affiliate of global energy and commodity trading company Vitol will pay approximately $164 million to settle charges of bribery, corruption, and manipulative and deceptive conduct levied by multiple regulators, including historic involvement by the CFTC.

Shipping

SBM Offshore FCPA case ends, Swiss investigation begins

2020-12-01T16:06:00+00:00By

SBM Offshore confirmed it has reached the end of its three-year deferred prosecution agreement with the Department of Justice for FCPA violations, but the oil and gas services company is now facing a fresh corruption investigation from Swiss enforcement authorities.

Asia globe

Asia corruption report cites government issues, bribery prevalence

2020-11-30T19:32:00+00:00By

Transparency International’s latest look at corruption and bribery trends in Asia reveals issues at the highest ranks of government, particularly at the parliamentary and senate level.

Apple

Apple’s chief security officer (and former CCO) accused of bribery

2020-11-24T17:49:00+00:00By

Apple Chief Security Officer Thomas Moyer, who served as the company’s chief compliance officer for nearly a decade, is facing accusations that he offered bribes in the form of iPads to California state officials in exchange for concealed firearms licenses.

Odebrecht site

Four years later, Odebrecht’s external monitorship ends

2020-11-24T16:57:00+00:00By

Odebrecht has reached the end of its compliance monitorship, four years after pleading guilty and resolving charges with authorities in the United States, Brazil, and Switzerland for violations of the Foreign Corrupt Practices Act.

world-map

2020 TRACE Bribery Matrix: U.S. falls from top 20; China on the rise

2020-11-19T21:24:00+00:00By

TRACE International’s 2020 Bribery Risk Matrix has the United States trending downward in multiple areas of business-related bribery risk.

OECD

OECD praises U.S. global anti-bribery enforcement efforts

2020-11-19T16:35:00+00:00By

In its 10-year check-in report, the Organisation for Economic Co-operation and Development lauded U.S. enforcement authorities for continuing to be at the forefront in the global fight against corruption and offered only minor suggestions for improvements.

Nuclear power

Embattled FirstEnergy parts with legal, ethics chiefs

2020-11-11T18:26:00+00:00By

Embroiled in the Ohio nuclear bailout federal corruption scandal, FirstEnergy Corp. continued to clean house with the firing of Chief Legal Officer Robert Reffner and General Counsel and Chief Ethics Officer Ebony Yeboah-Amankwah.

Jet plane

Bombardier cooperating with SFO corruption investigation

2020-11-06T15:43:00+00:00By

The U.K. Serious Fraud Office is investigating plane maker Bombardier over suspected bribery and corruption in relation to contracts and orders from Indonesian airline carrier Garuda Indonesia.

Aircraft maintenance

Airline Services Ltd to pay $3.9M, agrees to DPA in bribery case

2020-10-30T18:14:00+00:00By

The U.K.’s Serious Fraud Office has levied penalties worth nearly £3 million (U.S. $3.9 million) against defunct aircraft refurbishing company Airline Services Limited for violating the country’s anti-bribery laws.

covington300x200

CPE Webcast: Enforcement risks and compliance pitfalls for corporations

2020-10-29T14:00:00+00:00Provided by Covington

Three recent major enforcement actions related to alleged domestic bribery activity, including a $200 million deferred prosecution agreement with a major utility, may signal a renewed focus by the Department of Justice into corruption corporate interests at the state and local levels in the U.S.

Jim Beam

Bribes, falsified records cost Beam Suntory $19.6M in FCPA settlement

2020-10-28T18:43:00+00:00By

Alcoholic beverage maker Beam Suntory agreed to pay $19.6 million to resolve Foreign Corrupt Practices Act charges of improper payments by its Indian subsidiary.

GoldmanSachs

Compliance lessons from Goldman Sachs’ $2.9B 1MDB settlement

2020-10-23T15:05:00+01:00By

Jaclyn Jaeger explores compliance takeaways from Goldman Sachs’ $2.9 billion global bribery settlement for its role in the 1MDB scandal.

JBS

Brazilian meatpacker’s FCPA settlement details widespread corruption

2020-10-15T17:00:00+01:00By

Brazilian company JBS, the largest meat producer in the world, and its holding company agreed to pay nearly $300 million for systemic and widespread corruption in settlements with two U.S. enforcement agencies.

Medical devices

Merit Medical fined $18M after ignoring CCO’s kickback warnings

2020-10-15T16:34:00+01:00By

The former chief compliance officer for Merit Medical Systems will be paid $2.65 million for his role in uncovering a six-year kickback scheme that paid hospitals and doctors to purchase company products.

steele resource guide cover img

White paper: Additional Tips for Success in Combatting Bribery and Corruption

2020-09-24T12:45:00+01:00Provided by

On July 3, 2020, quietly and with little fanfare, the Criminal Division of the US Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) released the 133-page Resource Guide to the US Foreign Corruption Practices Act, Second Edition (“the FCPA Resource Guide”).

DOJSeal

Sargeant Marine to pay $16.6M in FCPA case

2020-09-23T18:42:00+01:00By

Sargeant Marine has pleaded guilty to conspiracy to violate the anti-bribery provisions of the FCPA and agreed to a $16.6 million criminal fine to resolve the charges, the Department of Justice announced.

FCPA-July

Pactiv Evergreen discloses FCPA probe ahead of IPO

2020-09-10T14:17:00+01:00By

In its IPO filing, foodservice packaging company Pactiv Evergreen (currently Reynolds Group Holdings Limited) announced it might have potentially violated the Foreign Corrupt Practices Act regarding gift cards given in China.

Bribe

Benefits of bribery: New study separates fact from fiction

2020-09-09T17:11:00+01:00By

While bribery can provide companies with major short-term gains, there is little evidence to support many other beliefs surrounding the “return on investment,” according to a new study.

woods

Best practices KYC: What to do when your client is in the headlines

2020-09-02T15:50:00+01:00By

How do we, as AML professionals, assess negative media alerts? It should start with a conversation with the client relationship manager, but it shouldn’t end there, writes Martin Woods.

Samsung

Samsung heir indicted on market manipulation, accounting fraud charges

2020-09-01T15:36:00+01:00By

Lee Jae-yong, the heir and de facto leader at Samsung, was indicted by South Korean prosecutors on charges related to a 2015 merger of two subsidiaries and alleged irregularities in accounting practices at another subsidiary.

Herbalife

Herbalife finalizes $123M FCPA settlement with SEC, DOJ

2020-08-28T16:49:00+01:00By

Herbalife will pay $123 million to settle charges of violating the books-and-records and internal accounting controls provisions of the Foreign Corrupt Practices Act in China.

Bribe

World Acceptance Corp. to pay $21.7M to resolve SEC FCPA case

2020-08-06T15:58:00+01:00By

World Acceptance Corp., a small-loan consumer finance company, has agreed to pay $21.7 million to resolve Securities and Exchange Commission charges for violations of the Foreign Corrupt Practices Act.

Medical devices

Eight years later, Zimmer Biomet FCPA case ends

2020-08-06T14:39:00+01:00By

Zimmer Biomet Holdings disclosed in a regulatory filing it has reached the end of its monitorship, eight years after resolving parallel settlements with the DOJ and SEC for violations of the Foreign Corrupt Practices Act.

Airbus

SFO charges Airbus subsidiary for corrupt acts in Saudi Arabia

2020-07-30T16:00:00+01:00By

The U.K. Serious Fraud Office announced charges against GPT Special Project Management and three individuals concerning a criminal investigation that began eight years ago into allegations of misconduct in Saudi Arabia.

Money laundering

Och-Ziff investors reach $136M proposed settlement in FCPA case

2020-07-29T18:41:00+01:00By

Sculptor Capital Management (formerly Och-Ziff Capital Management) has “agreed in principle” to a $136 million settlement with former shareholders of Africo Resources and the DOJ for violations of the Foreign Corrupt Practices Act.

Johnson & Johnson

Johnson & Johnson discloses FCPA probe

2020-07-27T17:34:00+01:00By

Johnson & Johnson disclosed in a regulatory filing that it is fielding FCPA inquiries from the DOJ and SEC with regard to an investigation into potential bribery and anti-competitive practices in Brazil.

Bribe

Exelon subsidiary ComEd to pay $200M in lobbying, bribery case

2020-07-20T16:51:00+01:00By

Commonwealth Edison will pay a $200 million fine as part of a deferred prosecution agreement with the Department of Justice to resolve a criminal investigation into a years-long bribery scheme concerning lobbying practices in Illinois.

WhistleblowerReward

Medical device maker projects $18M to settle FCA violations alleged by former CCO

2020-07-20T16:02:00+01:00By

Evidence of kickbacks and bribes brought to light by a whistleblower and former chief compliance officer has led Merit Medical Systems to reach an estimated $18 million agreement in principle with the DOJ to settle False Claims Act allegations.

Serious Fraud Office

SFO secures two Unaoil convictions, but judge critical of director

2020-07-14T16:42:00+01:00By

Following a four-year investigation, the U.K. Serious Fraud Office has secured convictions against two former Unaoil executives for bribes made to win oil services contracts in Iraq, although the presiding judge ordered a review into how SFO Director Lisa Osofsky led the case.

FCPA

FCPA Resource Guide revision a gold mine for compliance officers

2020-07-10T12:45:00+01:00By

The first update to the SEC and Justice Department’s FCPA Resource Guide since it was published in 2012 includes several clarifications intended to benefit chief compliance officers and in-house counsel.

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.”