December 9 - The investigation by the global forwarding and logistics Group Panalpina in connection with alleged violations of the Foreign Corrupt Practices Act (FCPA) mainly in Nigeria is nearing completion.
Last week, Panalpina commenced settlement discussions with the U.S. Department of Justice (DOJ). This process may take several months until finalisation. Panalpina's investigation into the company's compliance with the FCPA, which has been conducted in coordination and full cooperation with the DOJ, is drawing to a close. For almost three years, in depth reviews of operational activities in several countries, among them difficult markets in West Africa and Central Asia, have been conducted.
As part of its numerous initiatives to strengthen and expand compliance on a global level, Panalpina's Compliance Department has played an active role in critical aspects of the investigation under the oversight of outside counsel and in coordination with the DOJ. In the course of these proceedings the DOJ has met with the Compliance Department and has received updates on the company's compliance programs and their implementation.
Panalpina's compliance initiatives include the decision to close its Nigerian organisation and restructure its operations in West Africa.