Extracts from a Thomson Reuters Foundation article by Alia Dharssi published Thu, 29 May 2014
US oil firm prosecutions show need for transparency – activists
TORONTO – Oil and gas companies with major US operations have been the subject of at least 30 prosecutions related to bribes paid to foreign governments under the US Foreign Corrupt Practices Act (FCPA) since 2007, underscoring the urgent need for transparency regulations to tackle corruption in developing countries, activists and researchers say.
Royal Dutch Shell and Chevron Corp. are among the companies that have faced allegations of making illicit payments to foreign officials, according to research by Paasha Madhavi, a doctoral candidate at the University of California, Los Angeles (UCLA).