The UK Serious Fraud Office said Friday it is investigating ABB Ltd’s United Kingdom subsidiaries, their officers, employees, and agents for suspected bribery and corruption.
Entries in Unaoil (20)
International success now depends on business leaders having "the foreign policy acumen to distinguish what they can and cannot do,” according to John Chipman, the director-general and chief executive of the International Institute for Strategic Studies.
The UK Serious Fraud Office said Tuesday it is "conducting a criminal investigation into the activities of Unaoil, its officers, its employees and its agents in connection with suspected offenses of bribery, corruption and money laundering."
An Amsterdam-based oil services company said in a U.S. securities filing last week the DOJ has asked it questions in connection with the Unaoil investigation.
The last five years have seen a dramatic shift in the transparency environment, in a trend that began with Wikileaks launching the Arab Spring, and which is now reaching fruition in the vast data leaks from Luxembourg, Unaoil and Panama. Companies can no longer reliably distribute information as they choose, or maintain control over its interpretation.
The Unaoil scandal has again brought FCPA due diligence to the forefront. Specifically, the question asked of compliance officers is, “How much due diligence is enough?”
Shruti Shah on the U.S. response to the Panama Papers: A step in the right direction but more action is needed
The massive leak dubbed the Panama Papers has given the UK Anti-Corruption Summit on May 12 an unexpected boost. Those coming to the summit, now including the U.S., are lining up to make announcements about the steps they are taking to tackle corruption and specifically financial secrecy.
FMC Technologies received "an inquiry" from the Justice Department as part an investigation into whether services Unaoil provided to clients, including FMC, violated the Foreign Corrupt Practices Act.