US markets regulator SEC has fined Oracle $23 million for violations of the Foreign Corrupt Practices Act (FCPA) as subsidiaries in Turkey, the UAE, and India created and used slush funds to bribe officials in return for business between 2016 and 2019.
The order said slush funds were used also to provide other benefits such as paying for officials to attend technology conferences around the world in violation of Oracle's internal policies. In this episode of the Business Tit-Bits, our Business Editor Mr Akhilesh Bhargava shares his take on the matter.
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