How to determine when enhanced due diligence is warranted


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?


Poll shows room for improvement on training third parties


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.


Identifying high-risk third parties a nuanced exercise


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


Dark Web grows as an investigative tool


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.”


Anti-bribery and anti-corruption survey


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

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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.


TRACE: How the GDPR interferes with anti-corruption compliance


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.


SEC charges compliance officer in ticket resale scam


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

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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 discloses its bribery and corruption risk


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.


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


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 discloses Alcatel-Lucent compliance issues


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.”


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


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.


A global look at anti-bribery enforcement activity


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.


Hempel resolves bribery case with European authorities for $33.3M


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.


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


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 settles FCPA case with SEC, Department of Justice


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.


Shell: Dutch prosecutors to bring criminal charges


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.


Two indicted in PDVSA bribery probe


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.


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


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.


TechnipFMC: $280M is ‘probable estimate’ in global bribery settlement


U.K.-based company TechnipFMC disclosed in a regulatory filing that it has set aside $280 million, which it says is a “probable estimate” of the aggregate settlement amount with U.S., Brazilian, and French authorities in a global bribery case.


Herbalife provides update on FCPA probe


Dietary supplement maker Herbalife in a regulatory filing provided an update on an ongoing investigation regarding the company’s compliance with the Foreign Corrupt Practices Act in China.


SFO faces criticism for closing Rolls-Royce, GSK cases


The U.K. Serious Fraud Office closed two long-running bribery and corruption cases against Rolls-Royce and GlaxoSmithKline—a decision that casts further doubt around the effectiveness of the SFO’s investigatory powers and makes companies question the purpose of entering a deferred prosecution agreement at all.


Cognizant to pay $25M to resolve FCPA violations


Cognizant Technology Solutions has agreed to pay a civil penalty of $25 million to settle charges that it violated the Foreign Corrupt Practices Act. Additionally, two former executives of Cognizant were charged for their roles in facilitating the payment of millions of dollars in a bribe to an Indian government ...

Anti-corruption developments in emerging markets


In a recent webcast conducted by law firm Gibson Dunn, a panel of anti-corruption experts shared some key insights into the latest anti-corruption developments in some of the world’s largest—but most corrupt—regions and offered some practical tips on how to do business in these countries without running afoul of anti-corruption ...

Department of Justice closes FCPA probe into Ciena


Telecommunications company Ciena disclosed in its latest annual report that the Department of Justice advised the company that it has decided not to file any charges against it in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act.

Eletrobras compliance failures result in $2.5M penalty in FCPA case


Brazil’s state-run power company Eletrobras has agreed to pay a $2.5 million civil penalty for violations of the Foreign Corrupt Practices Act. Inside, the SEC administrative order details Eletrobras’s compliance failures.


When the customer’s not right


The Petrobras, Stryker, and Polycom enforcement actions serve as a lesson to compliance officers on how to guard against customer bribery schemes.

French court fines Total SA €500,000 in Iran bribery case


The Paris Criminal Court on Dec. 21 found French oil and gas company Total SA guilty of bribing a foreign public official and ordered the company to pay a €500,000 (U.S. $570,000) fine.

Plantronics announces closure of Polycom FCPA investigation


U.S. communications equipment company Plantronics announced Wednesday that Polycom entered into a settlement with the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act and will pay $36 million, which will come from an escrow secured by Plantronics as part of its acquisition of Polycom.

Department of Justice investigating Grupo Aval


Grupo Aval recently received an inquiry from the Department of Justice concerning the Ruta del Sol 2 project, a highway project involving Brazilian construction company Odebrecht and one of Grupo Aval’s subsidiaries, Corficolombiana.

Bilfinger: Deferred prosecution agreement concludes


A deferred prosecution agreement that Bilfinger entered into with the U.S. Department of Justice in 2013 has concluded, the Germany-based engineering group has announced.


A country-by-country assessment of bribery risk


The 2018 TRACE Bribery Risk Matrix has the latest business-related bribery risk figures for countries around the world. Compliance practitioners may want to pay close attention to those countries in which they operate.

Criminal charges unsealed in Panama Papers leak


U.S. prosecutors this week unsealed an indictment revealing criminal charges brought against four individuals for their alleged roles in a decades-long criminal scheme perpetrated by Panama-headquartered law firm Mossack Fonseca and related entities, the first charges brought in the United States connected to the Panama Papers leak.

CHS self-reports FCPA investigation


Farm supplies company CHS disclosed in a Dec. 3 securities filing that it has self-reported to the Department of Justice and Securities and Exchange Commission potential violations of the Foreign Corrupt Practices Act.

MTS reserves $849M in FCPA case


Russian telecommunications company MTS has set aside 55.8 billion rubles (U.S. $849 million) to resolve a U.S. investigation concerning potential violations of the U.S. Foreign Corrupt Practices Act.

Vantage Drilling pays $5M, closes FCPA case with SEC


Offshore drilling contractor Vantage Drilling International has concluded a settlement agreement with the Securities and Exchange Commission, in which it has agreed to pay $5 million to resolve a previously disclosed investigation into potential violations of the internal accounting control provisions of the U.S. Foreign Corrupt Practices Act.