SFO Wraps Up First Deferred Prosecution Agreement

Law360, London (November 30, 2018, 5:14 PM GMT) -- The Serious Fraud Office said Friday that it has wrapped up its first deferred prosecution agreement linked to bribery charges after ICBC Standard Bank PLC fulfilled the terms of the deal, including paying $26 million in fines.

The bank entered into the U.K.'s first ever DPA — which meant the lender escaped prosecution in return for a financial penalty and the implementation of compliance measures — in November 2015 after admitting failures to prevent former employees from bribing officials in Tanzania.

The SFO said Friday that Standard Bank, which changed its name to ICBC Standard Bank following its acquisition by China's...

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