Oracle India busted for creating “secret cash cushions”

Oracle paid $2 million to settle FCPA charges, highlighting the need to install tight revenue and expenses controls.

Aug 20, 2012

Software giant Oracle Corporation agreed to pay the US securities regulator a $2 million fine to settle its Foreign Corruption Practices Act (FCPA) violation. The US Securities and Exchange Commission alleged the Redwood Shore, California-headquartered company for failing to stop its Indian unit from hiding funds off the books and make purportedly phony payments to its Indian vendors.

Sign-in to access CorporateTreasurer content.

Please sign in to your subscription to unlock full access to our premium CT resources.

Free Registration & 7-Day Trial

Note: This free trial is a one-time offer. You are eligible for one free trial per year.

If you are a treasurer, CFO or senior finance professional at a corporate, please register to the website here.

Questions?

If you have any enquiries or would like a quote for a team or company licence, please contact us at [email protected]. Our subscription team will be happy to assist you.