All Anti-Bribery articles – Page 55
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Blog
SBM Offshore Enhances Compliance, Pays $240 Million for Bribery
SBM Offshore has reached a $240 million settlement with the Dutch Public Prosecutor’s Office over improper payments to sales agents and foreign government officials. The company initiated an internal investigation, reported the facts to authorities, and fully cooperated in the investigation. Dutch officials also credited SBM Offshore for taking significant ...
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Blog
TRACE Launches Business Bribery Risk Index
Image: Title: WrageNov. 11—TRACE International has announced the launch of the TRACE Matrix, a business bribery risk index aimed at the compliance community. Developed in collaboration with research firm RAND, the TRACE Matrix focuses specifically on business activity, rather than broad corruption measures, providing companies with the ability to assess ...
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Blog
Report: Most Countries Lag in Anti-Corruption Enforcement
Image: Title: UgazA recent report from Transparency International finds that only four of 41 OECD member countries—United States, United Kingdom, Germany, and Switzerland—actively investigate and prosecute companies for bribery and corruption violations, whereas most others do little or no enforcement. “For the anti-bribery convention to achieve a fundamental change in ...
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Blog
U.K. Fraud Office’s GC Offers Advice to Corporates for DPAs
Image: Title: GreenOct. 29—The general counsel for the U.K.’s Serious Fraud Office has provided some advice for companies interested in taking advantage of newly approved deferred-prosecution agreements if faced with an investigation from the SFO. Alun Milford, the SFO’s general counsel, said in a speech that the key factors for ...
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Blog
FCPA Takeaways in Layne Christensen
Image: Layne Christensen Co. joined the FCPA enforcement hall of shame this week; it was fined $5.1 million for various bribery infractions in Africa in the 2000s. Its aggressive investigation efforts won praise from regulators, but the root of the company’s problem—weak internal control over financial reporting—is still the far ...
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Blog
U.K. Businesses in Spotlight in Massive Money Laundering Scheme
Image: Title: ClarkeOct. 22—An investigative report published last week by The Independent revealed that 19 businesses registered in the United Kingdom are under suspicion for involvement in a complex money laundering scheme that cleaned £12.5 billion in illicit money over four years. The report cited corporate secrecy laws that make ...
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ArticleMany Countries, One Compliance Approach
The Compliance Week Europe conference, an annual event held last week in Brussels, drew attendees from 22 countries, many of whom represented companies that do business in an even greater number of nations. Building and maintaining an effective compliance program that is consistent across multinational borders is not an easy ...
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Blog
For FCPA Compliance, Don’t Forget the Internal Controls
They have been there all along, hiding in plain sight: the Foreign Corrupt Practices Act requirements for internal controls.The problem is that most compliance practitioners have not been reading them too carefully. What are internal controls in a FCPA compliance program? Aaron Murphy, a partner at Akin Gump and author ...
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Blog
Justice Department Official Stresses Compliance Hallmarks, Failures
Image: Title: MillerYet another Justice Department official is emphasizing the importance of effective compliance programs, this time in the context of avoiding a bribery and corruption probe. In a speech last week, Marshall Miller, principal deputy assistant attorney general for the Criminal Division, said: “The failure to expand compliance programs ...