KT Corp. violated the FCPA’s books and records and internal accounting controls provisions See more +
KT Corp. violated the FCPA’s books and records and internal accounting controls provisions stemming from its activities in South Korea and Vietnam. As explained in the SEC’s Order, KT lacked sufficient internal accounting controls over its expenses, including executive bonuses and purchases of gift cards, which resulted in KT Corp. managers and executives generating slush funds for illegal purposes. Additionally, KT Corp. failed to adopt anti-corruption policies and procedures with respect to donations, employment candidates, vendors, subcontractors or third-party agents. As a result, KT Corp. employees were able to provide improper benefits to government officials and potential government customers.
In this Episode, Michael Volkov reviews the KT Corp. settlement.
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February 27, 2022 at 10:49AM
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Episode 226 -- A Deep Dive into KT Corp.'s SEC FCPA Settlement - JD Supra
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