February 28, 2019
This month, Cognizant Technology Solutions Corporation (“Cognizant”) reached a US$25 million settlement with the SEC via a consensual cease-and-desist order to resolve violations of the anti-bribery, books and records, and internal accounting controls provisions of the FCPA. The violations stem from a 2014–2016 bribery scheme in which Cognizant executives in the United States and India authorized third parties to pay approximately US$3.6 million in bribes on Cognizant’s behalf to Indian government officials.
The DOJ declined prosecution of Cognizant, but Cognizant will disgorge US$19.4 million to the DOJ, to be offset by Cognizant’s US$16.4 million disgorgement to the SEC.
Visit the TRACE Compendium to view the complete entries, along with other updates from this month.