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Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Cleared by feds, but FCPA accusations leave lasting scars

In December 2012, a payment processing company based in Johannesburg called Net 1 UEPS Technologies, Inc. disclosed some bad news. The DOJ and SEC had launched FCPA investigations.

The feds wanted to know if Net1 paid bribes to win a contract from the South Africa Social Security Agency (SASSA).… Continue Reading

Double declination ends Net1 FCPA probe

Net 1 UEPS Technologies said in a securities filing Thursday that the DOJ has closed its investigation of possible violations of the Foreign Corrupt Practices Act.

The DOJ investigation had apparently continued since the company received an SEC declination (pdf) in mid 2015 for the same matter.… Continue Reading

SEC declination for South Africa’s Net1

Net 1 UEPS Technologies said in a securities filing Monday that the SEC isn’t recommending an enforcement action after investigating possible violations of the Foreign Corrupt Practices Act.

South Africa-based Net1 said in December 2012 that the SEC, DOJ, and FBI were investigating payments to South African government officials to win a contract with the Social Security Agency.… Continue Reading

With Net 1 investigation, the U.S. sends a message

Why investigate South Africa’s Net 1 in the U.S. for payments to South African officials?

The answer is probably because the South African enforcement authorities dropped the ball.

According to Nicola Whittaker of Corruption Watch, one of Net 1’s local companies, Cash Paymaster Services, allegedly bribed government officials to win a contract from the South African Social Security Agency (Sassa). … Continue Reading

Feds launch investigation of Net 1

South Africa-based Net 1 UEPS Technologies, Inc. said in an SEC filing that U.S. enforcement agencies are investigating possible violations of the Foreign Corrupt Practices Act.

Payments to South African government officials to win a contract with the Social Security Agency are the focus of the investigation launched by the SEC, DOJ and FBI.… Continue Reading