Swiss banknote ink producer SICPA SA has been fined 81 million Euros (2 billion TL) in the bribery case by pleading guilty.
SICPA SA acknowledged that it did not take the necessary measures to prevent bribery of foreign public officials. The Swiss prosecutor’s office decided to pay a total of 81 million CHF (2 billion TL) compensation to the company. The sentence was announced in the bulletin of the Office of the Chief Public Prosecutor of Switzerland (OAG).
BRIBERY AND CORRUPTION MAIN JUDGMENT
The proceedings identified organizational deficiencies that made it possible for SICPA staff to bribe public officials in the conduct of business in Brazil, Colombia and Venezuela. Organizational deficiencies were identified, particularly in the areas of corporate governance, risk management and compliance.
PRISON FOR EX-CEO
Bribery of foreign public officials In the criminal decision, the Swiss Prosecutor’s Office, the former CEO of SICPA, was found guilty of bribing foreign public officials and sentenced to 170 days in prison. The decision states that he bribed senior officials in the Colombian and Venezuelan markets between 2009 and 2011. The lawsuit against the same CEO on suspicion of embezzlement and money laundering was decided to continue.
THEY WILL NOT OBJECT TO THE PENALTY
According to the news published by the Prosecutor’s Office on its website, SICPA and its CEO have announced that they will not object to the final sentencing decisions and that they have accepted the crime and the penalty.
THEY OPERATE IN 84 COUNTRIES
SICPA, Switzerland-based company specialized in banknote and valuable document security, a Swiss company operating in 84 countries with the production of security inks, supplies ink to the banknotes of central banks.
A company that produces security ink for valuable documents such as passports and checks.
The company produces special security ink used in money printing in many countries of the world, and tax stamps and banderole used for tax auditing. The Company, which has undergone many inquiries regarding its contracts with the Brazilian, Moroccan and Nigerian governments in recent years, accepted the bribery allegations in the contract it made in Brazil.
MOST OF THEIR ACTIVITIES IN TURKEY HAS BEEN DISCONTINUED
Established in order to prevent counterfeit and illegal products, the company held the tender for the production of banderole in Turkey from 2008 until 2020. The company, which also carries out the banderole supply business, was terminated in 2020. SICPA has taken over the control and operation of the entrances of Museums and Attractions for 10 years and still continues to provide security ink besides the operation.