Goodyear’s FCPA Violations
Recently, Goodyear agreed to pay $16 million to resolve SEC charges that it violated the Foreign Corrupt Practices Act and the books and records and internal control provisions of the federal securities laws. According to the SEC, Goodyear failed to prevent or detect more than $3.2 million in bribes during a four-year period and falsely recorded the improper payments as legitimate business expenses. As companies expand their businesses globally, they must assess the best way to minimize FCPA risks and develop appropriate FCPA compliance programs. Read the SEC press release.