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Ericsson: end of anti-corruption surveillance in US

(CercleFinance.com) - Ericsson announced on Monday that the US justice system had terminated its surveillance stemming from an agreement reached in 2019 to respond to accusations of corruption.


Börje Ekholm, Ericsson's CEO, hails this as an 'important step' in his drive to improve the group's practices, as he believes the progress made over the last four years attests.

Our commitment to fostering integrity is ironclad, and we have no tolerance for corruption, fraud or other misconduct, he stressed.

In 2019, when signing an agreement with the US Department of Justice and the Securities and Exchange Commission (SEC), the Swedish group had agreed to submit to a three-year compliance monitoring aimed at strengthening its anti-corruption practices, a monitoring that had been extended by one year, until June 2024.

Last year, Ericsson had agreed to pay $220m to settle these lawsuits, which relating to its activities in Iraq.


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