SAP to pay more than $230 million to settle bribery charges, U.S. authorities say
Publishing timestamp: 2024-01-10 15:15:04
Summary
SAP will pay more than $230 million to settle investigations into worldwide bribery practices. The company is accused of violating the Foreign Corrupt Practices Act by allegedly bribing government officials in Indonesia and South Africa. This settlement is one of the largest of its kind and is the second time SAP has settled bribery allegations with U.S. regulators. The company will enter into a three-year deferred prosecution agreement with federal prosecutors. SAP will also pay $98 million disgorgement to the Securities and Exchange Commission.
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Keywords: crime, indonesia, markets, fraud and false statements, business news, investors, south africa, sap se, sap ag, breaking news: markets, united states, corruption,