Foreign_Corrupt_Practices_Act

Foreign_Corrupt_Practices_Act - Dubai Shanghai Panama...

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Dubai
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Shanghai
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Panama
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Afghanistan
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Siemens AG Global leader in electronics and electrical engineering. Operates in the industry, energy and healthcare sectors. Reputation for innovation and quality of its products. 405,000 employees in 190 countries. Worldwide sales of $104.3 billion in fiscal 2009.
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4,283 illegal payments related to 332 projects around the world. Total value of bribes paid was at least $1.4 billion Fines and penalties in the U.S. and Germany totaled $1.6 billion . Paying bribes to foreign government officials to obtain business. Concealing bribes with elaborate payment schemes. Not having adequate internal controls to detect and prevent bribes. Involving employees at all levels, including former senior management . SEC charged that Siemens violated the FCPA by:
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# Compliance staff worldwide: 2007 = 173 2009 = 598. In-person compliance training to 1,400 senior managers, 80,000 employees with "sensitive functions," and 220
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This note was uploaded on 09/07/2011 for the course BUS 682 taught by Professor Staff during the Spring '11 term at S.F. State.

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Foreign_Corrupt_Practices_Act - Dubai Shanghai Panama...

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