On 22 December 2014, the French engineering company Alstom agreed to pay USD 772 million to US authorities to settle charges of bribery brought under the Foreign Corrupt Practices Act, the United States’ anti-bribery law. The settlement concerned bribes paid to public officials in Indonesia and elsewhere. In March 2014 the Japanese multinational, Marubeni Corporation, agreed to pay a USD 88 million settlement to US authorities regarding its activities in Indonesia.
With the corruption scandal surrounding Petrobras now unfolding, and corruption allegations now being made against Singapore companies, will we see more prosecutions against companies from the region?
In this climate it is critical that companies maintain adequate anti-bribery policies and procedures. These not only prevent corruption, but also reduce the likelihood of prosecution.
During the event, Duane Morris & Selvam, together with Ethical Alliance reviewed some of the lessons from recent cases on what the authorities now expect from companies’ compliance programs and how those programs are implemented.