News and commentary about white-collar crime, enforcement, and compliance
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
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
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
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
South African miner Gold Fields Ltd. issued a statement Monday saying the SEC closed its FCPA investigation and won’t recommend an enforcement action against the company.
The SEC launched the Gold Fields investigation in 2013.… Continue Reading
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
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
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