CHF35 million corruption fine for printing press firm

The Swiss subsidiary of German printing press manufacturer Koenig & Bauer has agreed to pay a CHF35 milllion fine ($35 million) following a corruption scandal. The Office of the Attorney General on Friday confirmed an earlier report of the fine in Der Spiegel. The subsidiary, KBA Notasys, had been accused of not doing enough to prevent corruption by “foreign agents”. The incidents involved orders originating from Brazil, Nigeria, Morocco and Kazakhstan. The alarm was raised by an employee in December 2015. The company agreed on the settlement as part of a simplified procedure, an Attorney General spokesman said. Of the total fine, CHF30 million will go towards the federal coffers and CHF5 million into a fund for the promotion of ethical business practices.