Skip to content


Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Come on down, Canada! It’s enforcement time up north

In a terrific article for Canadian Business called ‘The crackdown,’ John Lorinc says that after decades of turning a blind eye, the Royal Canadian Mounted Police are going after companies that bribe foreigners.

SNC-Lavalin was just the start,’ according to Lorinc. ‘Dozens of firms are now waiting for the Mounties’ knock on the boardroom door.’

Here’s a great paragraph with lessons from the Siemens saga:

If Canadian corporations want to peer into the abyss, they need only ponder the fate of Siemens AG, the global tech and manufacturing giant. Targeted by German and U.S. investigators in the mid-2000s, the venerable firm became embroiled in a sensational scandal that would eventually cost it an astonishing $1.6 billion in fines—the largest corruption penalty anywhere, ever. Siemens’ own internal investigation—1,700 employee interviews, 14 million documents, and 38 million financial transactions checked—revealed the staggering size and pervasiveness of the rot. The company had “cash desks” where employees could withdraw huge amounts with which to bribe local officials: $18.7 million in Venezuela, $5 million in Bangladesh, $15 million in Argentina; the list goes on and on. As a summary of the investigation notes, such practices were neither isolated nor the handiwork of low-level managers. “Problems existed, albeit to differing degrees, across several Siemens operating groups.”

John Lorinc’s full article is here.

Share this post


Comments are closed for this article!