All Anti-Bribery articles – Page 23
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What is the price for profits?
LaFargeHolcim, a global construction materials and solutions company, is facing an investigation after it was uncovered that its Syrian operations funded terrorist groups to keep a cement plant operating.
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Of Saudi princes and gilded cages
If you have done business in Saudi Arabia or with wealthy Saudis over the past few years, now might be a very good time to review not only those business relationships, but also your FCPA compliance program, writes The Man From FCPA.
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March Madness and corruption
March Madness is looked at as one of the greatest sporting events of the year. It combines great play, underdogs felling giants, fantastic venues, devoted fans, and competition galore ... but this year it offers something else: an abject lesson in the failure of ethical conduct of the very institutions ...
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Transportation company to pay $2M in FCPA case
Transport Logistics International, a company that provides services for the transportation of nuclear materials to customers in the United States and abroad, agreed to pay a $2 million criminal penalty in connection with a scheme that involved the bribery of an official at a subsidiary of Russia’s State Atomic Energy ...
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SEC charges Elbit Imaging with violations of FCPA
The SEC charged Israel-based Elbit Imaging with violating the books and records and the internal accounting controls provisions of the Foreign Corrupt Practices Act. Elbit agreed to a cease-and-desist order and to pay a $500,000 civil money penalty.
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Sanofi: Department of Justice ends FCPA probe
French pharmaceutical company Sanofi said that the U.S. Department of Justice has closed its inquiry into allegations concerning potential violations of the U.S. Foreign Corrupt Practices Act.
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Is a success fee high risk?
It was reported that two U.S. lawyers had proposed a success fee in the amount of $75 million, if they could get the Department of Justice to drop its investigation into the 1MDB “quickly.”
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Exterran FCPA investigation ends without enforcement action
Exterran said it will not face an enforcement action following a Foreign Corrupt Practices Act investigation, but an SEC investigation related to circumstances giving rise to a previous restatement is continuing.
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What has Latvia wrought?
U.S. banking regulators have long understood the connection between bribery, corruption, money laundering. and security. It will be interesting to see if the ECB and European countries are willing to become as aggressive as their U.S. counter-parts in fighting the global scourge of money laundering.
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Teradata FCPA probe ends without enforcement action
IT service management company Teradata will not be facing any enforcement action following an investigation into questionable gifts and travel expenses by one of its international subsidiaries doing business in Turkey.
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World Bank debars Pak Elektron Limited
The World Bank has debarred three companies and a former general manager for engaging in collusive practices during bidding on contracts in Pakistan.
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Former PdVSA officials face corruption-based civil lawsuit
A look at the first civil action filed in Houston for the massive PdVSA bribery and corruption that engulfed the company and those who tried to do business with it over the past few years.
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Facilitation payments under the FCPA
In addition to its restrictions, a key to FCPA compliance is accurately recording facilitation payments going forward. As with all things FCPA-related, the “document, document, document” mantra holds.
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Extortion policies under the FCPA
An extortion payment, while not a violation of the FCPA, should have its own set of policies and procedures that employees adhere to per the chief compliance officer.
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Charitable entities and compliance
The stories of Plan International USA and of Oxfam make clear the need for robust compliance programs in a non-profit charity.
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Bad days ahead for Shell and ENI?
The bribery allegations against Shell and Italian energy company ENI makes one wonder: If monies paid to a foreign government itself are now subject to scrutiny, could it open up an entirely different exposure to liability for international organizations?
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Credit Suisse discloses FCPA investigation
Credit Suisse Group said it has been responding to requests from “certain governmental and regulatory authorities” concerning potential violation of the FCPA regarding its hiring practices in the Asia Pacific region.
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Opus launches new anti-bribery compliance solution
Opus, a global compliance and risk management solutions provider, recently launched a new turnkey solution designed to dramatically simplify and speed up the ability to comply with anti-corruption regulations.
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China amends, clarifies law addressing commercial bribery
For the first time in two decades, Chinese regulators have amended the Anti-Unfair Competition Law, giving companies more clarity on what constitutes commercial bribery.
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Why is the U.S. government investigating GlaxoSmithKline now?
GlaxoSmithKline recently said U.S. enforcement agencies asked for information about third-party advisers the company hired in China during a corruption investigation in the country. The Man From FCPA asks, why now?