Corruption crackdown

4 October 2016 By Gina Chon Follow @GinaChon

Och-Ziff just settled a U.S. kickback case in Africa. The Feds are also probing JPMorgan, Microsoft and others for possible corruption abroad. With extra resources behind them, authorities finally have more heft to force multinationals to get their far-flung operations in order.

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Cognizant Technology Solutions said on Sept. 30 it was conducting an internal probe into possible violations of U.S. anti-corruption laws. The investigation focuses on "whether certain payments relating to facilities in India were made improperly and in possible violation of the U.S. Foreign Corrupt Practices Act (FCPA) and other applicable laws," the company said in a regulatory filing.

On Sept. 29, hedge fund Och-Ziff agreed to pay a $413 million civil and criminal penalty to settle charges it violated the FCPA. The firm was accused of using intermediaries and agents to pay bribes to government officials in Africa in exchange for mining investment deals. Och-Ziff Chief Executive Daniel Och agreed to pay nearly $2.2 million to also settle the case.

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