Risk and Compliance update - December

Risk and Compliance update - December

Crime prevention

AML & counter-terrorist financing

GDPR and data protection

Information management & security

Crime prevention

Anti-bribery & corruption

Alstom Network UK Ltd has been fined £15m and ordered to pay a further £1.4m in costs after being convicted for conspiracy to corrupt, relating to a contract to supply trams in Tunisia. The company paid an intermediary, Construction et Gestion Nevco Inc (Nevco), €2.4m to secure a €79.9m contract with Transtu—the operator of the Tunis Metro. The contract between Alstom and Nevco was made to appear legitimate and pass internal compliance checks, however, in reality, it was only designed to facilitate bribes. See: LNB News 26/11/2019 34.

A jury found former Alstom SA executive Lawrence Hoskins guilty of a scheme to bribe Indonesian officials on Friday, 8 November 2019, convicting on all but one count in the long-awaited Foreign Corrupt Practices Act (FCPA) trial. See News Analysis: Ex-Alstom executive found guilty on 11 counts in bribery trial.

Samsung Heavy Industries Company Limited has agreed to pay total penalties of $75,481,600 to resolve the US government’s investigation into violations of the FCPA relating to bribery in Brazil. According to admissions by Samsung Heavy Industries, between 2000 and 2013, the company conspired to violate the FCPA by providing approximately $20m in payments to a Brazilian intermediary, knowing portions of the money would be paid as bribes to officials at Petrobras, the Brazilian state-owned oil and state-controlled energy company. See: LNB News 25/11/2019 17.

TRACE, the world’s leading anti-bribery standard setting organisation, has released the 2019 TRACE bribery risk matrix (TRACE Matrix), which measures business bribery risk across 200 jurisdictions. The overall risk score is a combined and weighted score of business interactions with government, anti-bribery deterrence and enforcement, government and civil service transparency, and capacity for civil society oversight, including the role of the media. See: LNB News 13/11/2019 42.

The Serious Fraud Office (SFO) faces further pressure to prove it

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About the author:
Allison is a former partner of Shoosmiths, with extensive experience of legal management and practice compliance.