Thursday, October 26, 2017

NEWS: SAP Reports Itself to DOJ and SEC Over South Africa Scandal

The German business software giant SAP said Thursday that it has disciplined some of its employees and made major changes to its sales processes, in connection with yet another Gupta-related corruption scandal in South Africa.

It also said it had voluntarily reported itself over the situation, which involves contracts with the South African state rail company Transet and state utility Eskom, to the U.S. Department of Justice and the Securities and Exchange Commission (SEC), both of which are now investigating the company for potential violations of the U.S. Foreign Corrupt Practices Act.