Global technology company confirms U.S. investigations into Hungarian sales operations

Financial Crimes FCPA SEC DOJ

On August 23, the Wall Street Journal reported that a global technology company is under investigation by the DOJ and the SEC regarding whether bribes and kickbacks were paid to Hungarian officials connected to sales of the company’s products in Hungary. The company stated in response to the reporting that it had terminated four employees as well as certain business partnerships in response to its own internal probe into potential wrongdoing in the 2013 to 2014 timeframe. In SEC filings over the last couple of years, the company previously disclosed FCPA-related investigations and that it has been cooperating with related U.S. investigations, which have to date yielded no enforcement actions.