"Tone at the top" is an overused phrase, but if companies want to mitigate fraud senior leaders need to speak up forcefully.
Cell-phone markets in Central America and Southeast Asia were booming early in the decade, and Alcatel SA paid dearly to get in on the action, in more ways than one.
The Paris telecommunications giant doled out $8 million in bribes to "consultants" (including a well-connected perfume distributor in Honduras) to gain access to key government officials awarding lucrative contracts in four countries. When its actions came to light, subsequent prosecution under the Foreign Corrupt Practices Act (FCPA) led to fines estimated to exceed $130 million.
See full Article.
Posts
