Last month, the DOJ's Leslie Caldwell, described the fight against corruption as “a necessary enforcement action to protect our own national security interests and the ability of our U.S. companies to compete on a global scale.” These comments not only apply to FCPA enforcement but also highlight the long-recognized notion that corruption can threaten peace and security. Today, the threat posed by corruption to security is especially relevant to Africa and the Middle East.
Entries in Middle East (9)
French pharma Sanofi is investigating possible illegal payments in the Middle East and Africa from 2007 to 2012 following allegations from an anonymous whistleblower.
Internal emails leaked from Australia's Leighton Holdings warn that a $24 million “facilitation payment” linked to a 2010 Iraq contract would “attract attention” from auditors.
Key Energy Services Inc. said it is investigating allegation of possible bribery involving its Mexico operations.
Here's what ATM-maker NCR Corporation said in its SEC filing (Form 8-K) this month about ongoing FCPA and OFAC investigations:
Weatherford International agreed Tuesday to pay $152.6 million to the DOJ and SEC for FCPA offenses in the Middle East and Africa and violation of the Iraq oil-for-food program.
In the last three years, fines for violations of the US Foreign Corrupt Practices Act (FCPA) – under which corporations with ties to the U.S. face criminal penalties for paying bribes to foreign government officials – have exceeded $2.1 billion.
In an earnings call Thursday, Gavin Bell, the vice president of investor relations for Atlanta-based NCR, revealed more details about investigations of potential FCPA violations in China, the Middle East, and Africa.