The first reports appeared Saturday. They said businesses and individuals in some countries are under pressure to donate to Covid-19 relief charities that have close ties to government officials.… Continue Reading
The FCPA Blog recently published the Top 40 FCPA penalties of all time. If you look at the companies that paid the largest penalties, you’ll see that four of the top ten are telecom companies: Ericsson and Telia (both from Sweden), Mobile TeleSystems (Russia), and Vimpelcom (Netherlands).… Continue Reading
Last year, we saw more enforcement actions brought against individuals than ever (up to 34, depending on how you’re counting), and a record number of convictions secured after trial (three). The cost of violating the FCPA continued to skyrocket.… Continue Reading
Last week’s $1.06 billion blockbuster resolution by Sweden’s Ericsson included disgorgement to the SEC of $540 million. By our count that’s the second biggest disgorgement ever ordered in an FCPA enforcement action.… Continue Reading
The world has now lived with the FCPA for more than 40 years and with hyper-enforcement for more than a decade. By now you’d think everyone on earth has learned about the risks of non-compliance.… Continue Reading
The DOJ unsealed charges Thursday against an Uzbek telecom exec and the daughter of the former Uzbek president for their roles in an $866 million bribery and money laundering scheme.
Russia’s biggest mobile phone company will pay $850 million in penalties to the DOJ and SEC to resolve FCPA violations, the SEC and the company said Wednesday.
MTS agreed to the SEC’s order finding that it violated the anti-bribery, books and records, and internal accounting controls provisions of the FCPA and will pay a $100 million penalty to the SEC.… Continue Reading