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Anti-bribery, corruption and disputes - it's not as easy as ABCD

1 August 2017

Foreign Corrupt Practices Act (“FCPA”)

For energy, mining, and resources companies, the cost of corruption—and getting caught—is real. Less than two months ago, Odebrecht S.A. was ordered by a U.S. federal judge to pay a fine exceeding US$2.6 billion in connection with bribery and other illegal conduct relating to Brazil’s Operation Lava Jato, with US$93 million going to the U.S., US$2.39 billion to Brazil and US$116m to Switzerland. Earlier this year, Sociedad Química y Minera de Chile S.A., a Chilean chemicals and mining company, paid US$30 million in civil and criminal penalties related to bribery charges[1]. In 2010, a global freight-forwarding company and six oil-and-gas service companies paid a total of US$236.5 million in criminal and civil penalties and disgorgement for bribing foreign officials.

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