Ohio-based Diebold Inc. agreed Tuesday to pay a criminal fine of $25.2 million to the DOJ and $23 million in disgorgement and prejudgment interest to the SEC to resolve allegations it violated the Foreign Corrupt Practices Act by covering up bribes to bank officials in China, Indonesia and Russia.… Continue Reading
A new wind may be blowing at the DOJ. Its tentative deal with JP Morgan indicates a willingness to take a tougher attitude on remediation. The DOJ is asking for a big payment, $13 billion, but the really big news is that DOJ reportedly hasn’t dropped the criminal investigations and will require the bank to admit wrongdoing.… Continue Reading
India’s emergence as the largest importer of weapons in the world has coincided with well-intentioned efforts to clean up a procurement process with a history of bribery problems.
However, a blacklist system to ban errant arms dealers has potentially weakened efforts to modernize India’s outdated military and done little to actually stem corruption.… Continue Reading