Telia Deferred Prosecution Agreement: What You Need to Know

In September 2017, Telia Company AB, a multinational telecommunications company headquartered in Stockholm, Sweden, entered into a deferred prosecution agreement (DPA) with the United States Department of Justice (DOJ) to settle charges of violating the Foreign Corrupt Practices Act (FCPA).

The FCPA is a U.S. law that prohibits the payment of bribes to foreign officials to obtain or retain business. Telia was accused of paying bribes to government officials in Uzbekistan to secure a telecommunications license and spectrum frequencies.

Under the terms of the DPA, Telia agreed to pay a total of $965 million in fines and disgorgement, the largest penalty ever paid by a telecommunications company for FCPA violations. The company also agreed to cooperate with the DOJ`s ongoing investigation, implement enhanced anti-corruption compliance measures, and retain a monitor for three years.

The DPA was a significant milestone for the DOJ`s FCPA enforcement efforts, as it demonstrated the government`s commitment to holding corporations accountable for bribing foreign officials to secure business. It also highlights the risks of doing business in certain countries with high levels of corruption.

For companies operating in the telecommunications industry, the Telia DPA serves as a valuable reminder of the importance of implementing effective anti-corruption compliance programs. Such programs not only help prevent violations of the FCPA, but also foster a culture of integrity that can enhance a company`s reputation and competitiveness in the marketplace.

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In conclusion, the Telia DPA is a significant event in the history of FCPA enforcement, as it highlights the consequences of violating anti-corruption laws and the importance of effective compliance programs. As companies continue to expand their global operations, it is incumbent upon them to prioritize anti-corruption efforts to mitigate the risks of FCPA violations and related reputational harm.