Ericsson announces the completion of the independent compliance Monitor's tenure, initiated in June 2020 as a component of Ericsson’s 2019 Deferred Prosecution Agreement (DPA) with the US Department of Justice (DOJ) to rectify past breaches of the Foreign Corrupt Practices Act (FCPA). These are related to conduct in Djibouti, China, Vietnam, Indonesia and Kuwait that took place pre-2017.
Ericsson has previously agreed to pay a fine of USD 206,728,848 and entered a guilty plea agreement which provides that the company will have cooperation, reporting and compliance obligations to the DOJ through June 2024.
The March 2023 Plea Agreement with the DOJ, addressing non-criminal infractions of the DPA, concluded on June 2, 2024.
Commenting on this important milestone, Börje Ekholm, President and CEO of Ericsson, said, “Over the past four years we have implemented important compliance requirements and processes. Our commitment to integrity is rock solid and we have no tolerance for corruption, fraud or other misconduct.”
Over the past four years, the independent compliance Monitor has been responsible for comprehensively reviewing, assessing, evaluating, and testing all aspects of Ericsson’s global anti-corruption compliance program and internal controls.
On March 28, 2024, the Monitor certified to the DOJ that Ericsson's anti-corruption compliance program meets the required standards and is functioning effectively.
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