Allianz fined $12.4m by SEC for improper payments in Indonesia
The Securities and Exchange Commission has charged Allianz SE with violating the books and records and internal control provisions of the Foreign Corrupt Practices Act for improper payments to government officials in Indonesia during a seven-year period.
The SEC investigation uncovered 295 insurance contracts on large government projects that were obtained or retained by improper payments of $650 626 by Allianz's subsidiary in Indonesia to employees
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