Diebold Inc. has been fined by the Securities & ExchangeCommission for allegedly bribing officials at government-ownedbanks in China and Indonesia to buy the firm's ATMs.

The North Canton, Ohio, company has agreed to pay $48 million tosettle the charges, the SEC said in an Oct. 22 announcement.

SEC charged the firm under the Foreign Corrupt Practices Actwhich bars U.S. firms from bribing officials in foreign nations,among other things

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.