Two senior managers of the China Roads and Bridge Construction Company were arrested in Kenya for allegedly giving bribes to highway authority officials to cover up the use of overloaded trucks.… Continue Reading
Posts Tagged: Africa
AlixPartners recently conducted its annual anticorruption survey which looked at the impact corruption has on corporate and economic growth. In particular, we explored the ways companies are identifying corruption risk and the steps they’re taking to deal with the risks.… Continue Reading
Kenyan authorities arrested 77 Chinese nationals for allegedly operating a cybercrime command center capable of disrupting the country’s communication and financial systems.
Police raided a rented house in Nairobi after a fire broke out there and found “sophisticated” hacking and communications equipment, the Nation reported.… Continue Reading
One of the ongoing definitional challenges facing compliance professionals worldwide is whether and under what circumstances traditional authorities, such as aboriginal ‘‘band’’ or ‘‘tribal’’ leaders, qualify as ‘‘foreign officials’’ under the FCPA. … Continue Reading
Frederic Cilins, 51, a French citizen, pleaded guilty Monday in the Southern District of New York to obstructing a federal criminal investigation into whether a mining company paid bribes to win mining rights in the Republic of Guinea.… Continue Reading
A new survey of general counsels and compliance officers found that 30% of companies in North America, Europe, and Asia stopped doing business with a partner because of corruption risks.
Here’s what ATM-maker NCR Corporation said in its SEC filing (Form 8-K) this month about ongoing FCPA and OFAC investigations:
In 2012, NCR received anonymous allegations from a purported whistleblower regarding certain aspects of the Company’s business practices in China, the Middle East and Africa.… Continue Reading
Kansas-based Layne Christensen Company said last week it has increased its reserve for a potential FCPA settlement from $4.8 million to $10.4 million. That amount, the company said, represents the low end of the range for a possible settlement, which could also reach $16 million or more.… Continue Reading