All Anti-Bribery articles – Page 50
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Blog
SFO Brings Corruption Charges Against Former Alstom Compliance Executive
Image: Title: LainéBritain’s Serious Fraud Office has filed corruption charges against a former head of ethics and compliance at Alstom, the beleaguered French firm subject to anti-bribery investigations in multiple countries. The charges against Jean-Daniel Lainé stem from bribes Alstom allegedly paid in the 2000s to supply trains to the ...
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Blog
Dun & Bradstreet Discloses FCPA Investigation Costs
Dun & Bradstreet, a commercial data and analytics provider, disclosed in a recent securities filing that it spent slightly more this time around than the same period last year on costs associated with its China investigation into possible violations of the Foreign Corrupt Practices Act. Details inside.
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Blog
SFO: Alstom to Face More Criminal Charges
The U.K. Serious Fraud Office recently announced that it has brought fresh charges against Alstom Network U.K. and an Alstom employee in phase three of its ongoing investigation. The latest charges concern allegations of corruption for the supply of trains to the Budapest Metro. Details inside.
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Article
Far East: The Epicenter of FCPA Enforcement?
Image: Everyone says bribery risk is highest along the Pacific Rim, but how acute is the problem really? Pretty bad, according to a Compliance Week review of recent FCPA enforcement actions—and the risks will only increase as more U.S. companies enter Asia and more Asian companies tap U.S. capital markets. ...
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Blog
Ukraine Anti-Corruption Law Requires Compliance Officers
The Ukraine has enacted a new law that applies to almost all companies participating in public tenders and state-owned enterprises over a certain size, requiring them to have in place a compliance program. The law further requires companies to appoint a compliance officer with responsibility for implementing the compliance program. ...
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Blog
China Targets Medical Device Companies in Bribery Probe
Chinese regulators are investigating several foreign medical device companies over suspicions that they may have bribed hospitals in exchange for sales. Regulators launched a preliminary investigation last year into the Chinese healthcare units of U.S.-based General Electric, Amsterdam-based Royal Philips, and Germany-based Siemens AG. Details inside.
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Blog
TI Index Shows Anti-Corruption Improvements in Defense Sector
A new anti-corruption index examining anti-corruption measures in the defense sector reveals some good news: many defense companies are increasingly addressing corruption risks, with improvement evident in companies from every region of the world. The results show significant improvement overall,” said Transparency International, which last issued its index in 2012. ...
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Blog
Braskem Self-Reports FCPA Probe
Brazil-based petrochemical giant Braskem has launched an internal investigation into potential violations of the Foreign Corrupt Practices Act. Braskem said it is investigating allegations that two of its former executive officers made improper payments from 2006 to 2012 to Brazil’s state-owned oil company Petrobras, in exchange for raw-material supply agreements. ...
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Article
Whistleblower Laws Abroad Remain Weak and Untested
Image: What whistleblower protections exist overseas that are comparable to those under the Sarbanes-Oxley and Dodd-Frank Acts? Compliance Week did a spot-check of major countries, and the results of our round-the-world tour are inside. “There’s no country in the world whose whistleblower protection laws come close to what we’ve developed ...
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Blog
TI Report Urges Southeast Asia to Make Anti-Corruption a Priority
Leaders of the Association of Southeast Asian Nations are not doing nearly enough to address corruption at the national level, warns a new report by Transparency International. In its report, TI recommended that ASEAN form an ASEAN Integrity Community to fast track anti-corruption policy measures and further recommended four targeted ...
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Blog
UTC Gets Second Subpoena in Bribery Probe
United Technologies Corp. has disclosed that it received a second subpoena from the SEC for potential violations of anti-bribery laws. UTC said the SEC issued the subpoena “seeking documents related to internal allegations of alleged violations of anti-bribery laws from UTC’s aerospace and commercial businesses, including but not limited ...
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Article
Cleaning Up FCPA Cases That Spill Into Litigation
Image: Companies under investigation for possible violations of the FCPA have more than enforcement action to worry about; they must be prepared to fend off shareholder lawsuits as well. That requires some careful strategy about how to investigate FCPA allegations and document them. “I can’t tell you how often I ...
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Blog
OECD Roasts Iceland on Anti-Bribery Efforts
The Organization for Economic Cooperation and Development’s Working Group on Bribery this week said it has “serious concerns” about Iceland’s lack of progress in both combating the bribery of foreign public officials. Out of 17 recommendations made by the Working Group in 2010, just two of the recommendations had been ...
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Blog
France Lags Behind in Global Corruption Fight
France has drawn international attention amid a string of scandals that engulfed some of the country’s largest companies. When compared to the United States, experts believe that French authorities are more lenient on wrongdoing. The Organization of Economic Cooperation and Development is “seriously concerned” by the country’s “lackluster response” toward ...
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Blog
Bilfinger Probe Uncovers Bribery Related to World Cup
German-based engineering company Bilfinger said that an internal investigation has uncovered potential bribery payments made to government officials in Brazil for contracts related to the 2014 World Cup. After launching an internal investigation into the allegations last year, “suspicions have now been substantiated,” Bilfinger said. Details inside.
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Blog
OECD: Greece Must Focus More on Foreign Bribery
The risk of Greek companies bribing foreign officials is substantial, and yet Greece has not given the same priority to fighting foreign bribery as it has to domestic corruption, according to the Organization for Economic Cooperation and Development's Phase 3bis Report on Greece." The repor examines issues that the Working ...
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Blog
Swiss AG Freezes $400 Million in Petrobras-Related Assets
The Office of the Attorney General of Switzerland (OAG) is currently conducting nine investigations in the Petrobras case and has issued an order freezing USD$400 million in assets deposited in Switzerland in connection with the
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Blog
Justice Department Extends Biomet DPA
The Department of Justice will extend for an additional year a deferred-prosecution agreement reached in 2012 with Biomet, after the medical device maker self-reported additional potential violations of the Foreign Corrupt Practices Act. The three-year DPA, which would have expired March 26, 2015, will now expire on March 26, 2016. ...
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Article
Petrobras Probe Portends Brazil Enforcement Crackdown
Image: Suddenly anti-corruption enforcement seems to be serious in Brazil—to the point that businesses working there might want to pay more heed to enforcement risks from Brazilian regulators themselves. The catalyst is the sweeping investigation into state-owned oil company Petrobras, riveting Brazil this month. “We can expect much more enforcement ...
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Resource
Anti-Bribery and Corruption: A Changing Landscape
Most companies are well aware of the risks bribery and corruption pose when operating in the global marketplace. However, what companies may be overlooking is how quickly the landscape is changing—and how this dynamic shift can affect corporate compliance initiatives. With the recent up-tick in enforcement of the Foreign Corrupt ...