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Browsing: SAP Fined $100M
- The SAP FCPA violation will result in a $100 million fine from the US Securities and Exchange Commission.
- From December 2014 to January 2022, SAP was found to have utilized third-party intermediaries and consultants to pay bribes to government officials in order to secure business.
- The SEC’s action is part of a coordinated global settlement that involves the United States Department of Justice and criminal and civil authorities in South Africa.
German software giant SAP has disclosed that it paid Kenyan government officials for tenders in the country. The company has now agreed to pay $100 million in fines to settle charges of paying bribes to secure business deals in Kenya, Tanzania, South Africa, Malawi, Ghana, Indonesia, and Azerbaijan.
In 2019, a whistleblower complaint filed with the US Securities and Exchange Commission and the US Department of Justice indicated that SAP was involved in corruption and bribery, thereby violating US …