Rolls-Royce has agreed to pay £671m in fines to the authorities in the UK, the US and Brazil. This offer suspends the prosecution and brings to a close a torrid period for the venerable British engineering firm. While there are many lessons to be learned from this debacle, perhaps the easiest and quickest to digest is that lying and obfuscation is not the way to deal with allegations of corruption.
As the FT notes in its report linked below, the investigation into graft and bribery goes back to questionable conduct in the late 1980s in the US, and it was also found that ‘Rolls-Royce’s leadership was aware of questionable conduct since 2010 and decided not to notify the authorities.’
CNS Risk advises companies on how to take action in situations such as these; we assist through investigations that prepare for self-reporting, and work with counsel and other advisors to help companies respond to and cooperate with the relevant authorities. Contact us directly for more information on how we can help.