FCPA

What is the FCPA? The abbreviation stands for the Foreign Corrupt Practices Act. The FCPA is a 1977 US amendment that focuses on provisions related to anti-bribery and transparency through corporate accounting transactions. The following FCPA articles are written by and for compliance and legal professionals and cover FCPA news, events, whitepapers, podcasts, and webinars and more. 

Credit Suisse building in Zurich.

Credit Suisse Ignored $250+ Million Shortfalls and Contracted with “The Master of Kickbacks” to Facilitate the Tuna Bonds Scheme

Credit Suisse agreed to pay $547 million to resolve a bribery and fraud scheme involving investments and financing arrangements for $850 million loan for the EMATUM tuna fishing operation. The fallout has dealt the Mozambique economy a crippling blow. Credit Suisse Group AG, a global financial institution, and its London-based European subsidiary, Credit Suisse Securities (Europe) Limited (CSSEL) on October...

Former Brazilian Petrochemical CEO Sentenced to 20 Months in Prison Over FCPA Violations

Former Brazilian Petrochemical CEO Sentenced to 20 Months in Prison Over FCPA Violations

DOJ says scheme involved diverting millions from company into slush fund and paying bribes to Brazilian government officials, political parties and others. A Brazilian man who previously served as the chief executive officer of Braskem S.A., a publicly traded Brazilian petrochemical company, was sentenced Oct. 13 in the Eastern District of New York to 20 months in prison for a...

A person leaves the Ericsson head office in Gothenburg.

In Break with Tradition, DOJ Indicted Former Ericsson Employee for Role in Foreign Bribery Scheme

A former Ericsson employee allegedly employed "financial sleight-of-hand involving a sham consulting contract, a false due-diligence report, and fake invoices" to conceal a bribe to Djiboutian government officials. The DOJ broke with previous practices in indicting him personally. In a surprising (but fully warranted) twist, the Justice Department returned an indictment on September 8 against a former employee of Telefonaktiebolaget...

A busy market in Lagos Nigeria.

There’s One Main Barrier to Doing Business in Nigeria: The FCPA

Doing business in Nigeria presents manifold challenges. But in terms of hurdles to clear, the regulations imposed by the FCPA are easily the most significant. Abuja-based Uchechi Dibiaezue lays out the dance steps below. Tap Compliance to Stave Off FCPA Violations The lapses in governance and administration in Nigeria has created opportunities for systematic corruption and shapes the way business...

US secretary of state Antony Blinken

Corporate Compliance Considerations Following the Publication of the Engel List

Published earlier this summer, the Engel List identifies over 50 prominent politicians and business people living in the Northern Triangle countries of Guatemala, Honduras and El Salvador. The move signals a renewed focus by the Justice Department in the region. On July 1, 2021, Secretary of State Antony Blinken issued a report listing 55 individuals suspected of corruption and antidemocratic...

Not a Siren’s Song: The Foster Wheeler FCPA Enforcement Action

Not a Siren’s Song: The Foster Wheeler FCPA Enforcement Action

Foster Wheeler has recently settled a long-standing corruption investigation regarding the use of Unaoil to pay bribes to secure business. Tom Fox details the corruption allegations and outlines takeaways for the compliance practitioner, specifically around the FCPA penalties the company incurred, the internal controls (or, rather, the lack thereof) that allowed the corruption to fester and Foster Wheeler's due diligence...

Tom Fox’s FCPA Year in Review: A Look Back at the Corruption Cases That Defined a Tumultuous 2020

Tom Fox’s FCPA Year in Review: A Look Back at the Corruption Cases That Defined a Tumultuous 2020

2020 was a very significant year for every compliance practitioner and compliance program. Not only was it the year with the single highest Foreign Corrupt Practices Act (FCPA) fine ever -- and the largest year in total FCPA fines to date -- but there were significant enforcement actions, fines and penalties assessed against corporations, coupled with a large number of...

woman looking at horizon from mountain top

What’s on the Horizon for Anti-Corruption Enforcement?

Hogan Lovells’ Stephanie Yonekura and Ann Kim examine the impact of mammoth relief spending, widespread remote work and other key developments on anti-corruption that enforcement will have globally in the near future. The massive sums of government funds allocated to respond to the COVID-19 pandemic and an unprecedented urgency to distribute those funds have created opportunities for corruption at the...

Hogan Lovells: Global Bribery and Corruption Outlook 2021

Hogan Lovells: Global Bribery and Corruption Outlook 2021

As we enter 2021 with considerable uncertainty, a new report from Hogan Lovells highlights expectations for a year that will be shaped by ongoing political disruption and pandemic-related pressure. Despite these unpredictable times, Hogan Lovells attorneys have identified several unifying trends across key industries and jurisdictions globally, including: An expectation for continued cross-border enforcement activity and collaboration. The alignment of...

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