On 19 December, 2 releases on Mondo Visione advised that the SEC has announced charges against Honeywell International Inc – a US-based global manufacturer of aerospace, building technologies, and automation products – for violations of the FCPA arising out of bribery schemes that took place in Brazil and Algeria. The company has agreed to pay more than $81 million to settle the SEC’s charges. In a parallel case, Honeywell also entered into a deferred prosecution agreement and agreed to pay more than $78 million to settle criminal charges brought by the DoJ and Honeywell also agreed to settle additional charges brought by the Brazilian government. It is said that, for years, Honeywell neglected to implement sufficient internal accounting controls to mitigate against known corruption risks in countries like Brazil and Algeria.
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