SAP, the German software giant, is set to pay more than $220 million in fines to settle U.S. bribery allegations involving payments to foreign government officials.
The company is accused of providing bribes and valuable enticements to officials to secure contracts in South Africa, Indonesia, Malawi, Kenya, Tanzania, Ghana, and Azerbaijan.
These inducements included cash payments, political contributions, electronic transfers, and luxury goods obtained during shopping trips. The aim was to secure valuable government business.
The $220 million fine marks the resolution of a long-standing investigation by U.S. authorities into SAP’s alleged bribery of officials in various countries. The violations of the Foreign Corrupt Practices Act (FCPA) involved corrupt practices spanning from December 2014 to January 2022.
This settlement also highlights SAP’s status as a repeat offender, with previous charges filed in 2016 in connection with a bribery program in Panama.
While SAP welcomes the settlement, acknowledging responsibility for past misconduct, the company emphasizes its commitment to upholding the highest standards of ethics and compliance globally.
You May Like This
You May Like This
