Frank’s International pays SEC $8 million to resolve Angola FCPA violations

The oil services company Frank's International has agreed to pay $8 million to settle Foreign Corrupt Practices Act (FCPA) violations related tovi its operations in Angola. The U.S. Securities and Exchange Commission (SEC) found that Frank's International made improper payments to Angolan officials in exchange for preferential treatment and to avoid difficulties in obtaining permits and visas. The SEC also found that the company failed to maintain adequate internal controls and record-keeping related to these payments. As part of the settlement, Frank's International agreed to cooperate with ongoing investigations and to report periodically to the SEC on its remediation efforts.

https://fcpablog.com/2023/04/26/franks-international-pays-sec-8-million-to-resolve-angola-fcpa-violations/