One luxury item is showing up more often in alleged graft-related asset seizures: wrist watches, especially the high-end variety with eye-watering price tags.… Continue Reading
One of the world’s biggest shipbuilders agreed Friday to pay $75 million in total penalties to resolve criminal FCPA offenses in Brazil.… Continue Reading
The DOJ unsealed an indictment Wednesday charging the former chief executive officer of Braskem S.A. with helping his company and Odebrecht S.A. amass a giant slush fund and use it to bribe officials and political parties in Brazil.… Continue Reading
The World Bank debarred a Portuguese engineering services company Wednesday for 12 months for “fraudulent and obstructive practices” involving a project in Brazil.… Continue Reading
Despite enacting new laws this year aimed at money laundering and terrorist financing, Brazil has again come under fire for apparent weakness in its ability to meet international enforcement standards.… Continue Reading
A new report recently published by The Ethics and Compliance Initiative (ECI), the 2019 Global Business Ethics Survey, addresses the state of E&C programs across ten countries — USA, Brazil, UK, Spain, France, Italy, Germany, Russia, India, and China.… Continue Reading
TechnipFMC plc paid the SEC $5 million Monday to settle FCPA offenses related to bribing Iraqi officials to win business with state-owned oil companies.
The London-headquartered oil and gas company disgorged $4.3… Continue Reading
Walmart Inc. agreed Thursday to pay the DOJ and SEC $282 million to settle allegations that it violated the Foreign Corrupt Practices by paying an intermediary in Brazil for help obtaining construction permits and having weak anti-corruption internal controls in Brazil, China, India, and Mexico.… Continue Reading
The SEC Thursday fined Telefônica Brasil S.A. $4.125 million for providing soccer tickets and hospitality to government officials who could help the company’s business.
The SEC charged the company with violating the FCPA’s internal accounting controls and recordkeeping provisions.… Continue Reading