FCPA Violations & Regulatory Cooperation

“We want companies to explain to us what efforts it has taken to strengthen and fix their compliance programs, the efforts taken while they are investigating the violation. We don’t want them to just say ‘we’ll do this in the future,’ but to show us what they’ve done to create a more robust internal audit function and a better third-party screening procedure, for example.”

— Charles Duross, former deputy chief of the FCPA Unit in the Criminal Division of the Department of Justice, 2013

Beginning in 2010, the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC), which jointly enforce the Foreign Corrupt Practices Act (FCPA), stepped up the number of FCPA enforcement actions.

Regulators have a broad range of remedies at their disposal for FCPA violations, including the ability to pursue criminal and civil prosecutions, levy significant fines, debarred from government contracts, and to suspend, revoke, amend or deny a company’s export license.

Top 10 FCPA Enforcement Actions

  1. Siemens (Germany): $800 million in 2008.
  2. KBR / Halliburton (USA): $579 million in 2009.
  3. BAE (UK): $400 million in 2010.
  4. Total S.A. (France) $398 million in 2013.
  5. Alcoa (U.S.) $384 million in 2014.
  6. Snamprogetti Netherlands B.V. / ENI S.p.A (Holland/Italy): $365 million in 2010.
  7. Technip S.A. (France): $338 million in 2010.
  8. JGC Corporation (Japan) $218.8 million in 2011.
  9. Daimler AG (Germany): $185 million in 2010.
  10. Weatherford International (Switzerland): $152.6 million in 2013.

Source: http://www.fcpablog.com/blog/2014/1/10/alcoa-lands-5th-on-our-top-ten-list.html

Ongoing FCPA Investigations: Top 10 Countries

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