What happens when you ‘self-report’ improprieties?\u00a0\u00a0 Layne Christensen Company agreed to pay nearly $5 million in fines last year.\u00a0 They self-reported employees’ bribes offered to help get business in Africa.\u00a0 The fines were about half what they might have been if the companies themselves had not stepped forward.<\/p>\n
Apparently one-third of all cases brought under the Foreign Corrupt Practices Act have been the result of self-disclosure.\u00a0 Across the globe, self-reporting is becoming more common.\u00a0 There are now 41 signatories to the 1999 Ant-Bribery Convention.<\/p>\n
The Economic Cooperation and Development (OECD) has stated that over the past fifteen years, that most international bribes are paid by large companies with the knowledge of senior management.<\/p>\n
Most cases have resulted in settlement rather than convictions.\u00a0 The wrong-doing was either to blatant to fight in court, or more hopefully, companies have decided to join the fight against corruption.<\/p>\n
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