News

SEC closes probe into alleged bribery by NCR execs

The US government will take no enforcement action related to 2012 whistleblower allegations of wrongdoing in the company's Middle East and China offices.

August 7, 2015

The U.S. Securities and Exchange Commission has notified NCR Corp. that it will not recommend enforcement action related to its investigation of allegations that the company had been involved in foreign bribery, a report by RTT News said.

The probe was initiated in summer of 2012 when NCR notified the SEC that it had received communications from an anonymous tipster who claimed that NCR's Middle East offices had improperly given gifts and free international trips to officials in Oman, and had violated U.S. trade embargoes against Syria.

Further, the tipster alleged, an in-house attorney for NCR in China first objected to, then signed off on, a proposed meeting that the attorney had earlier said violated the company's bribery policies.

The company opened its own investigation of the charges, and in 2013 made a presentation to staff of the SEC and U.S. Department of Justice demonstrating that many of the claims were unsubstantiated. The company also presented documentation requested by the federal agencies.