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The Largest-Ever Corporate Payouts To The US Over Foreign Bribery Charges

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On Tuesday, global tech company NCR Corp. revealed it was probing internal allegations that it was violating federal anti-bribery law, the Wall Street Journal reported.

NCR's revelation comes as the U.S. government has been cracking down on violations of the Foreign Corrupt Practices Act.

Last week, Pfizer agreed to pay $60 million to settle allegations it bribed officials in Bulgaria, Croatia, Kazakhstan, and Russia to persuade them to use the drug giant's products.

And Avon, the door-to-door cosmetics giant, has been negotiating with federal regulators to settle an FCPA probe that spurred some executives to leave the company, Bloomberg reported Aug. 1.

The Pfizer deal didn't quite make the list of top 10 largest-ever settlements with the federal government, but Business Insider decided to take a look at which companies did make the list, courtesy of the FCPA Blog. The settlements cover both civil and criminal penalties.

Many of these companies are foreign, but they can't escape the FCPA—the law applies to companies that trade securities on U.S. exchanges.

A Switzerland-based logistics company admitted to paying $27 million in bribes.

Company: Panalpina 

Settlement: $81.5 million

Year: 2010

The conduct or allegations: The company admitted paying $27 million in bribes to officials in Angola, Azerbaijan, Brazil, Kazakhstan, Nigeria, Russia, and Turkmenistan. It was trying to make customs clearance easier for its customers, according to the U.S. Department of Justice.



A Hungarian telecom and its German owner paid out over claims the telecom entered into a secret deal to halt new laws in Macedonia.

Company: Magyar Telekom Plc and its majority owner Deutsche Telekom AG

Settlement: $95 million

Year: 2011

The conduct or allegations: Magyar was accused of entering into a secret deal with Macedonian government officials to thwart impending regulations, according to the DOJ.



A French company accused of paying big bucks to do business in Asian and Latin American Countries.

Company: Alcatel-Lucent S.A.

Settlement: $137 million

Year: 2010

The conduct or violations: The U.S. Securities and Exchange Commission claimed three of Alcatel-Lucent's subsidiaries illicitly paid millions of dollars to foreign officials through sham consultants so they could get business in Costa Rica, Honduras, Malaysia, and Taiwan.



See the rest of the story at Business Insider

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