SAP, the German software company, has agreed to a settlement of approximately $222 million or R4 billion to conclude investigations into bribery schemes across seven countries, as announced by U.S. authorities on Wednesday.
According to the U.S. Department of Justice, SAP has entered into a three-year deferred prosecution agreement to address criminal charges related to allegations of conspiring to bribe government officials in Indonesia and South Africa with the aim of securing business.
SAP has additionally reached a correlated civil resolution with the U.S. Securities and Exchange Commission, settling charges related to purported bribery schemes in Azerbaijan, Ghana, Kenya, Malawi, and Tanzania, alongside Indonesia and South Africa.
In a statement, SAP expresses its satisfaction with the resolution of these issues and commits to fully complying with the terms outlined in the agreements.
As highlighted in the settlement documents, SAP conducted a comprehensive investigation into past misconduct, demonstrating complete cooperation with the authorities.
Over five years ago, SAP distanced itself from all individuals responsible for the misconduct and has since significantly strengthened its global compliance program and associated internal controls. The extensive remedial measures, coupled with proactive collaboration with the authorities, have resulted in the complete resolution of these matters.
SAP added that it maintains a zero-tolerance policy for those who violate the company’s compliance policies and procedures.
The company said it remained steadfast in upholding the highest standards of ethics and compliance. By working closely with a global network of customers, partners, suppliers, employees, and thought leaders, SAP is committed to contributing to a better-functioning world and enhancing people’s lives.
