LAW 533 Lecture Notes - Lecture 12: Foreign Corrupt Practices Act, Theo Waigel, Indictable Offence
18 Apr 2017
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Chapter 12 overseas anti-bribery/anti-corruption and the law. Anyone found guilty under the act can face up to five years in jail. Having a systemic anti-bribery/corruption management system as part of a company"s csr approach can ensure that no activities of the firm can be construed as running contrary to the terms of the cfpoa. The company systematically bribed public officials around the world to obtain lucrative government infrastructure and equipment contracts. After pleading guilty and paying fines up to . 6 billion, siemens undertook various reforms to address corruption through the following reforms: Expanded and upgraded compliance unit (12-11: in 2007, they established a compliance committee whose mandate is to monitor the. Company"s adherence to statutory provisions, official regulations and internal company policies. Facilitating employee and third party assistance on corruption issues (12-13: siemens has a implemented a number of centralized compliance helpdesks .
