On October 22, 2013, the U.S. Department of Justice (“DOJ”) and the Securities & Exchange Commission (“SEC”) announced their agreements with Diebold Inc. (“Diebold”) regarding probes into alleged bribery of foreign bank officials. The finalized agreements (which were reached in principle in August) require Diebold to pay a total of $48.1 million to the government agencies in order to resolve claims that the company violated multiple provisions of the Foreign Corrupt Practices Act (“FCPA”). Diebold reached a three-year deferred prosecution agreement (“DPA”) with the DOJ to settle the criminal charges. As part of the DPA, the company is required to retain a compliance monitor for at least 18 months.

Diebold is a publicly traded company headquartered in Ohio and markets automated teller machines and bank security systems in over 90 countries across the globe. The DOJ and the SEC charged Diebold with conspiracy to violate the FCPA’s anti-bribery and books and records provisions and substantive FCPA books and records and internal controls violations. The SEC’s complaint and the DOJ’s Information outlined alleged misconduct on the part of three of Diebold’s international subsidiaries in China, Indonesia, and Russia between 2005 and 2010.