Pharma giant Novartis AG agreed Wednesday to pay $25 million to settle charges that it violated the Foreign Corrupt Practices Act when two China-based subsidiaries bribed doctors and others to prescribe its drugs. … Continue Reading
The owner of multiple U.S.-based oil and gas services companies pleaded guilty Tuesday to FCPA and fraud charges for bribing officials to win contracts from Venezuela’s state-owned energy company, Petroleos de Venezuela S.A.… Continue Reading
AML Alert: New York rule would require certification by compliance chiefs, impose criminal liability
In an effort to stop terrorism financing at its source, the New York Department of Financial Services proposed new requirements for economic sanctions and anti-money laundering programs maintained by financial firms.… Continue Reading
Last month Amsterdam-based VimpelCom Limited and its wholly owned Uzbek subsidiary, Unitel LLC, paid U.S. penalties of $397.6 million to resolve FCPA offenses.
In its enforcement action, the SEC said that at least $114 million in bribe payments were funneled through an entity affiliated with an Uzbek official, and approximately a half-million dollars in bribes were disguised as charitable donations made to charities directly affiliated with the Uzbek official. … Continue Reading