Ericsson Says U.S.-Imposed Monitor Has OK’d Its Anticorruption Program – WSJ

Ericsson said a U.S.-imposed compliance monitor has certified that its anticorruption program is working, a crucial step for the telecommunications company to emerge from the close Justice Department scrutiny it has been under since it admitted to bribery in 2019.

On Thursday, Ericsson said it expects to emerge from its independent monitorship no later than June 2. The monitor said Ericsson’s anticorruption compliance program has “satisfied requirements and is functioning effectively,” according to the company.

Stockholm-based Ericsson was put under a monitor’s observation after entering into a more than $1 billion settlement with prosecutors in 2019 over a bribery scheme that ran from 2000 to 2016 and involved the company’s operations in Djibouti, China, Vietnam, Kuwait and Indonesia.

Source: Ericsson Says U.S.-Imposed Monitor Has OK’d Its Anticorruption Program – WSJ