Anti-Bribery


AAR_Corp_web

News Brief

AAR Corp. to pay $56M to settle FCPA violations in Nepal, South Africa

2024-12-23T12:00:00+00:00By

Aviation maintenance services provider AAR Corp. will pay nearly $56 million to settle charges that it violated the Foreign Corrupt Practices Act when it paid bribes to government officials in Nepal and South Africa.

McKinsey

News Brief

DOJ hits McKinsey & Co. subsidiary with $123M criminal penalty over bribes in South Africa

2024-12-06T17:31:00+00:00By

A subsidiary of McKinsey & Co. will pay nearly $123 million to the Department of Justice to settle allegations that it bribed officials in South Africa to win consulting contracts.

Thales_web

News Brief

French defense contractor Thales Group under investigation for bribery in Asia

2024-11-26T17:29:00+00:00By

French defense and aviation contractor Thales Group is under investigation by authorities in the U.K. and France for allegedly participating in bribery and corruption.

adani_web

News Brief

Adani Group CEO, seven business executives charged in huge $250M bribery scheme

2024-11-22T14:39:00+00:00By

Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.

gambling

News Brief

BIT Mining changes business model, pays $10M fine to resolve FCPA violations

2024-11-19T19:26:00+00:00By

A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.

red_flags_web

Premium

Experts explain why red flags can often be ignored due to ‘underlying systematic issues’

2024-11-19T17:28:00+00:00By

Companies spend huge sums on audit, risk management, and compliance to alert them about potential legal issues before they escalate into serious corporate governance failings. There’s only one problem, however–they often misread their own early warning signs or ignore them altogether.

telefonica_web

News Brief

Spanish telecomm Telefónica S.A. fined $85M over bribes to government officials in Venezuela

2024-11-11T17:09:00+00:00By

A subsidiary of Spanish telecommunications provider Telefónica S.A. will pay $85.2 million to settle a charge that it violated the Foreign Corrupt Practices Act when it paid bribes to Venezuelan officials to gain preferential access to a currency auction.

Raytheon

Premium

Raytheon parent RTX settles false claims, defective pricing, Qatar FCPA violations for $950M

2024-10-17T17:01:00+01:00By

The other shoe finally dropped for Raytheon and parent company RTX, as two U.S. regulators announced nearly $1 billion in penalties to settle defective pricing in defense contracts, false claims related to inflated prices on government contracts, and bribes paid to government officials in Qatar that violated the FCPA.

Bribery

News Brief

Poor internal controls led to FCPA violations in Moog’s $1.7M settlement with SEC

2024-10-15T17:05:00+01:00By

A company culture geared to “win business at any cost” encouraged employees of New York-based aerospace manufacturer Moog to pay bribes in India to win contracts, the Securities and Exchange Commission alleged.

AAR_Corp_web

News Brief

AAR Corp. discloses former exec implicated in Nepal, South Africa FCPA violations

2024-09-25T20:22:00+01:00By

Aviation maintenance services provider AAR Corp. disclosed that several former employees may have bribed officials in Nepal and South Africa to win contracts, and chose to self-report violations of the Foreign Corrupt Practices Act to authorities in the U.S. and U.K.

John_Deere_Web

News Brief

John Deere to pay $10M to settle FCPA violations by subsidiary in Thailand

2024-09-11T14:16:00+01:00By

Illinois-based manufacturer John Deere will pay approximately $10 million in penalties and disgorgement to the Securities and Exchange Commission for violating the Foreign Corrupt Practices Act with bribes paid by a Thai subsidiary.

Oil

News Brief

Ex-trader at Vitol latest to plead guilty in alleged PEMEX bribery scheme

2024-08-26T15:47:00+01:00By

A former trader at the U.S. affiliate of energy giant Vitol pleaded guilty to bribing officials at Petroleos Mexicanos in an effort to secure contracts.

Hanjo_Seibert_Web

Podcast

Podcast: BCG managing director on anti-financial crime technology

2024-08-13T13:10:00+01:00By

Staff writer Aaron Nicodemus discussed anti-financial crime technology in banking with Hanjo Seibert, managing director and partner of Boston Consulting Group, during the latest episode of the Compliance Week podcast.

whistleblower_gavel_web

Premium

Game-changing DOJ pilot whistleblower program panned by critics

2024-08-02T14:12:00+01:00By

The Department of Justice released the details of its long-awaited corporate whistleblower awards pilot program that will prioritize reporting in areas of corporate crime not currently covered by existing whistleblower programs.

SFO

Premium

SFO staffing shortages improve under new leadership

2024-08-01T15:35:00+01:00By

Staffing shortages that have plagued the U.K. Serious Fraud Office are trending in the right direction since its new director took charge, with the anti-bribery agency forging ahead with initiatives to ensure its future sustainability.

UK_Gambling_Commission_Web

Article

Former U.K. Gambling Commission investigator on AML/CFT regulations

2024-07-30T18:09:00+01:00By Helen Siegieda, International Compliance Association

Recent events have put a spotlight on the role of the U.K. Gambling Commission, following its investigation into privileged information allegedly being used to bet on the date of the U.K. general election.

Raytheon

News Brief

Raytheon parent reserves $1.24B over improper payments, export control violations

2024-07-26T19:18:00+01:00By

RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.

Dominic_Buckwell_web1

Premium

Q&A: Seaco general counsel, compliance head on environmental regulations

2024-07-03T18:17:00+01:00By

Dominic Buckwell, general counsel and compliance head at global marine container leasing company Seaco, discussed key themes including anti-money laundering, sanctions, and why the industry needs common environmental reporting standards.

Whistle question

Premium

What to watch for as DOJ whistleblower program sprint ends

2024-06-05T19:14:00+01:00By

The Department of Justice’s 90-day sprint to developing and implementing a pilot whistleblower rewards program ended Wednesday, and many questions remain about what the program will entail.

Ericsson

News Brief

Ericsson completes DOJ-imposed compliance monitorship

2024-06-03T18:48:00+01:00By

Swedish telecommunications giant Ericsson announced the conclusion of the independent compliance monitorship imposed on the company following its 2019 settlement for violations of the Foreign Corrupt Practices Act.

London dark

Premium

Experts express skepticism toward ‘challenging’ SFO strategy

2024-05-31T15:47:00+01:00By

The U.K. Serious Fraud Office last month published its five-year strategic plan outlining how it intends to improve information gathering and international cooperation, as well as its enforcement record.

Albemarle 2000x1333

Event

Revamped compliance processes key Albemarle win as Compliance Program of the Year

2024-05-29T18:30:00+01:00By

For successfully navigating thorny compliance issues related to self-disclosed violations of the Foreign Corrupt Practices Act, Albemarle was named Compliance Program of the Year at the 2024 Excellence in Compliance Awards.

Koenig_DOJ_SEC_Day2

Premium

JBS CECO on overcoming ‘fear, anxiety, and chaos’ of taking job post-FCPA settlements

2024-04-12T14:57:00+01:00By

Mike Koenig explained at Compliance Week’s 2024 National Conference how he helped rebuild JBS Foods’ compliance department following Foreign Corrupt Practices Act settlements with the Department of Justice and Securities and Exchange Commission.

CW2024 ITM

Opinion

Highlights from Compliance Week 2024

2024-04-11T13:00:00+01:00By

Compliance officers took to the main stage to share their experiences at Compliance Week’s 2024 National Conference, while other highlights included conversations around artificial intelligence and the modern challenges the industry is confronting.

DOJ building

Premium

What the DOJ’s whistleblower reward program needs to succeed

2024-04-10T16:48:00+01:00By

The Department of Justice is set to join a growing list of U.S. federal agencies to have a whistleblower reward program in place, but how impactful it will be at generating more white-collar investigations and prosecutions rides on its initial design, according to experts.

CW2024 McBride

Premium

Ex-Albemarle CCO shares drivers behind data analytics success at CW2024

2024-04-04T00:41:00+01:00By

Former Albemarle CCO Andrew McBride explained at Compliance Week’s 2024 National Conference how he led the company’s compliance department to remediate the issues that led to apparent FCPA violations and how the team used data analytics to assess risks and implement compliance solutions.

Oilfield

Premium

DOJ commodities trader FCPA sweep offers lessons in cooperation

2024-04-02T13:33:00+01:00By

The value the Department of Justice places on cooperation can be measured by studying penalties and agreements resulting from the agency’s long-running investigation into bribery and corruption by oil traders operating in Latin America and Africa.

Ericsson

News Brief

Ericsson: Monitor certified anti-corruption program post-FCPA settlement

2024-03-29T18:46:00+00:00By

Swedish telecommunications company Ericsson announced its independent monitor appointed by the Department of Justice certified its compliance program satisfies the requirements ordered by the U.S. agency following its 2019 Foreign Corrupt Practices Act settlement.

Trafigura

News Brief

Trafigura pleads guilty, to pay $127M over FCPA violations in Brazil

2024-03-28T19:53:00+00:00By

Singapore-based commodity trading company Trafigura agreed to pay nearly $127 million as part of a resolution with the Department of Justice addressing violations of the Foreign Corrupt Practices Act in Brazil.

adani_web

News Brief

Adani Group on defense over reports of FCPA probe

2024-03-21T18:21:00+00:00By

Indian conglomerate Adani Group said it is aware of an investigation by the U.S. Department of Justice into bribery allegations against a “third party” but denied a relationship with it.

DOJ building

News Brief

Ex-Stericycle finance director charged for bribery scheme role

2024-03-20T18:17:00+00:00By

A former finance director at medical waste disposal company Stericycle faces Department of Justice charges for his alleged role in a bribery scheme that led the company to an $84 million settlement regarding violations of the Foreign Corrupt Practices Act.

DOJ

Premium

DOJ eyeing more FCPA cases with whistleblower program

2024-03-08T18:33:00+00:00By

The Department of Justice anticipates its upcoming whistleblower reward program will help the agency increase its pipeline of cases involving apparent violations of the Foreign Corrupt Practices Act, said Acting Assistant Attorney General Nicole Argentieri.

Whistle

News Brief

DOJ on sprint toward pilot whistleblower reward program

2024-03-07T21:07:00+00:00By

Deputy Attorney General Lisa Monaco said the Department of Justice will look to fill gaps in its whistleblower procedures with the launch of a 90-day sprint toward a DOJ-led pilot whistleblower reward program.

Andrew McBride

Podcast

CW National 2024 preview: Former Albemarle CCO on FCPA case lessons

2024-03-04T16:17:00+00:00By

Andrew McBride, former chief risk and compliance officer at chemical company Albemarle Corp., joins the Compliance Week podcast with Aaron Nicodemus to preview his session at CW’s National Conference in Washington, D.C.

Oil barrels

News Brief

Gunvor to pay $661M to settle FCPA violations in Ecuador

2024-03-04T16:12:00+00:00By

Swiss-based oil trader Gunvor will pay more than $661 million as part of a plea agreement with the Department of Justice to resolve violations of the Foreign Corrupt Practices Act involving a long-running scheme to bribe officials in Ecuador to secure oil contracts.

Brasseur_opinion

Opinion

Ten things I’m excited for at CW National 2024

2024-02-22T13:00:00+00:00By

A new month and a new venue but a lot of the same you love about Compliance Week’s National Conference. CW Editor in Chief Kyle Brasseur shares what he’s looking forward to most at the 2024 edition of the annual event.

DOJ building

Premium

The path to DOJ cooperation credit: Analyzing recent FCPA cases

2024-02-20T14:55:00+00:00By

Recent enforcement actions offer guidance on what the Department of Justice considers to be an “imminent threat” of disclosure or government action, what it means by “prompt” disclosure, and how a company can earn credit for revealing all relevant facts.

Teamwork

Premium

LRN survey: Compliance programs shifting focus from bribery, corruption

2024-02-16T22:35:00+00:00By

Many ethics and compliance programs have refocused their efforts away from bribery and corruption and onto data security and privacy, complex government regulations, artificial intelligence security, and other contemporary challenges, a survey from LRN found.

London dark

Premium

New SFO director vows quicker cases, stumps for whistleblower payouts

2024-02-14T21:21:00+00:00By

“Under my leadership, the SFO will be bolder, more pragmatic, more proactive,” said Nick Ephgrave in his first public speech as head of the U.K. Serious Fraud Office.

Gallagher

News Brief

Insurance broker Gallagher off hook in DOJ FCPA probe

2024-02-12T14:45:00+00:00By

Arthur J. Gallagher disclosed the Department of Justice ended an investigation into the insurance broker’s business in Ecuador for potential violations of the Foreign Corrupt Practices Act.

Raytheon

News Brief

Raytheon parent discloses indications of improper payments in Middle East

2024-02-08T19:46:00+00:00By

RTX Corp., parent company of aerospace and defense giant Raytheon, disclosed an internal investigation launched into potential improper payments in connection with contracts in the Middle East found indications of misconduct.

FCPA-July

News Brief

Calavo Growers discloses potential FCPA issues

2024-02-01T15:57:00+00:00By

Multinational produce and agriculture company Calavo Growers disclosed in an annual filing an investigation into its Mexico operations found potential issues under the Foreign Corrupt Practices Act.

Philips

Premium

FCPA violations in China: Lessons learned from 2023 cases

2024-01-25T18:01:00+00:00By

Enforcement actions regarding alleged violations of the Foreign Corrupt Practices Act at 3M, Albemarle, Clear Channel Outdoor, and Royal Philips each had China touchpoints. Experts assess third-party risk management lessons learned from each case.

Business data

Premium

Lessons from Albemarle, ABB: How data-driven compliance can help your firm

2024-01-12T20:32:00+00:00By

Andrew McBride, chief risk officer of Albemarle Corp., and Tapan Debnath, head of integrity, regulatory affairs and data privacy at ABB, discussed how and why their respective organizations use data analytics to conduct business as part of a recent webcast.

DOJ building

News Brief

RDx Bioscience, CEO settle kickback case for $13M

2024-01-11T21:50:00+00:00By

New Jersey-based clinical laboratory RDx Bioscience and its chief executive officer agreed to pay more than $13 million to the Department of Justice to settle illegal kickback allegations.

Whistle - dark

News Brief

SDNY launches whistleblower pilot program

2024-01-11T16:39:00+00:00By

The U.S. Attorney’s Office for the Southern District of New York took its efforts to encourage voluntary self-disclosure a step further with the launch of a whistleblower pilot program for individuals involved in nonviolent offenses.

SAP

News Brief

SAP to pay $220M in FCPA settlements

2024-01-10T20:31:00+00:00By

German-based software company SAP agreed to pay more than $220 million as part of resolutions with authorities in the United States and South Africa regarding alleged violations of the Foreign Corrupt Practices Act.

Brasseur_opinion

Opinion

Ten things I’d like to see happen in 2024

2024-01-08T16:02:00+00:00By

Election years in the United States, United Kingdom, and at European Parliament, along with ongoing geopolitical tensions, make 2024 difficult to predict—aside from the expectation compliance officers will be busy.

News Brief

Atlantic Home Health Care to pay $10M over energy program false claims

2024-01-08T12:28:00+00:00By

Atlantic Home Health Care LLC agreed to pay nearly $10 million as part of a settlement with the Department of Justice addressing the alleged submission of false claims to the Department of Labor’s Energy Employees Occupational Illness Compensation Program.