American technology giant Oracle Corporation agreed Tuesday to pay the SEC $22.9 million to resolve charges that it violated the Foreign Corrupt Practices Act in Turkey, India, and the United Arab Emirates through subsidiaries that created and used slush funds to bribe foreign officials in return for business.… Continue Reading
Posts Tagged: Turkey
As the recent high-level and healthy debate on the FCPA Blog has shown, there are various ways to gather and analyze corruption-risk data at the country level, all of which have respective pros and cons but nevertheless are indispensable in our era of risk-based compliance decision-making.… Continue Reading
Have you noticed how many corporate FCPA enforcement actions recount old facts. Really old facts — sometimes from more than a decade ago. Why should we care about all that ancient history?… Continue Reading
Connecticut-based Alexion Pharmaceuticals, Inc. agreed to pay $21.4 million to resolve SEC charges that the company violated the FCPA by bribing foreign officials in Turkey and Russia, and failing to maintain accurate books and records at subsidiaries in Brazil and Colombia.… Continue Reading
The SEC charged a former Goldman Sachs executive Monday with FCPA violations stemming from his alleged bribery plot to help a Turkish energy company win a power plant contract in Ghana.… Continue Reading
Unexplained Wealth Orders (UWOs) — nicknamed the “Mcmafia” law after the hit TV drama about Russian organized crime in London — received a lot of attention in the press as the solution to the UK’s dirty money problem.… Continue Reading
On July 6, the head of Turkey’s central bank Murat Cetinkaya — who in 2017 publicly stated that he felt threatened by Bitcoin — was unexpectedly removed from his job by President Recep Tayyip Erdogan.… Continue Reading
Microsoft Corporation paid the DOJ and SEC $25.3 million Monday to settle FCPA offenses related to its operations in Hungary, Saudi Arabia, Thailand, and Turkey.
A Microsoft subsidiary in Hungary called Microsoft Magyarorszag Kft.… Continue Reading
Armenia doesn’t top many investors’ lists. The former Soviet republic is in an ongoing military conflict with neighboring Azerbaijan, has two closed trade borders with Turkey and Azerbaijan (borders with Iran and Georgia are open), and pervasive corruption prevents Armenia’s three million citizens from prospering.… Continue Reading
Teradata Corporation said in an SEC filing Friday that the FCPA investigation into gifts and travel expenses at a subsidiary in Turkey has ended and the company won’t face an enforcement action.… Continue Reading
Teradata Corporation said in an SEC filing Friday that it discovered “questionable expenditures for travel, gifts and other expenses” at a subsidiary doing business in Turkey.
Ohio-based Teradata develops and sells enterprise software for database management.… Continue Reading