Albemarle corporation, agreed to a $2.8 million payment in penalties and disgorgement to the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) to settle Foreign Corrupt Practices Act (FCPA) violations related to bribery in Vietnam, India, and Indonesia. According to the DOJ, Albemarle conspired to pay bribes to government officials in these countries […]
New Grupo Aval FCPA Settlement On August 10, 2023, the Grupo Aval Acciones y Valores S.A. entered into an agreement with the U.S. Department of Justice along with the Securities and Exchange Commission to pay $80.8 million dollars as a result of an FCPA fine. These fines were related to a toll road project the […]
A number of interesting C Suite “characters” have been in the spotlight in recent years in the area of business corruption, fraud, and other acts of misconduct. These “bad actors” engaged in a multitude of bad actions and questionable behaviors, sometimes criminal activities, ranging from fraud, embezzlement, bribery, and money laundering, leading to serious reputation […]
Foreign Corrupt Practice Act (FCPA) enforcements so far in 2022 total $112.3 million in settlements with three companies: South Korea’s KT Corporation, Stericycle, Inc. headquartered in Illinois, and in June, Luxembourg steel pipe manufacturer Tenaris. Stericycle numbers climbed to over $82 million in combination with settling parallel criminal and civil charges to the US and […]
The U.S. Department of Justice (DOJ) announced last Tuesday a $1.18 billion dollar agreement was reached by Glencore International A.G. and Glencore Ltd. (collectively Glencore), part of a British-Swiss world-spanning, commodities and mining company, headquartered in Switzerland to resolve a four-year investigation into a violation of the Foreign Corrupt Practices Act (FCPA) and a “commodity […]
Ongoing global business connections provide great benefits, but also conceal great risks. This has led to increased cooperation between corporations and multi-national government agencies to uncover FCPA violations.
Global supply chains are often taken for granted when businesses expand nationally and internationally. Supply-chain vendors are often selected as quickly as possible to keep the movement of goods and supplies or manufacturing capabilities moving rapidly and at a reasonable cost. So, what does a company need to do to mitigate risk in its supply chain?
Doing business is an increasingly global endeavor, from establishing international locations, sourcing, manufacturing and global supply-chains to mergers and acquisitions of international entities, plus increasing foreign investments. However, these benefits come with a wide range of potential and even substantial risks...
I recently spoke with Tom Fox, The Compliance Evangelist on The Compliance Podcast Network regarding insights from recent enforcement actions, where we considered various aspects of international due diligence investigations. In many ways this can be viewed as finding a needle in the corporate haystack of information and data. We looked at actions that help us […]
It was an honor to be discussing due diligence investigations this week with Tom Fox, The Compliance Evangelist. The following is excerpted from a series of 5 podcasts, taking a deeper look at a variety of compliance tools and issues faced by CCO's. In many ways this can be viewed as finding a needle in the […]
