Cisco under US investigation for bribery in Russia – report
MOSCOW, March 14 (RAPSI) – The US Securities and Exchange Commission (SEC) and the US Department of Justice have launched an investigation into the activities of Cisco Systems Inc. in connection with bribery allegations linked to its Russian operations, Bloomberg News reported Thursday.
The networking equipment giant stated in a filing that it or its resellers may have violated the US Foreign Corrupt Practices Act (FCPA) in Russia, according to the report.
Cisco was quoted in the report as having stated, "The company takes any such allegations very seriously and is fully cooperating with and sharing the results of its investigation with the Commission and the Department."
Cisco describes itself as a worldwide leader in IT. The company is headquartered in San Jose, California.