Oracle will pay $23 million to settle charges that the company bribed foreign officials through its subsidiaries in several countries, the Securities and Exchange Commission (SEC) announced Tuesday. The SEC order alleges that Oracle subsidiaries in Turkey, the United Arab Emirates (UAE) and India used slush funds to bribe officials in return for business between 2016 and 2019. As part of the settlement, Oracle did not admit or deny the findings, but agreed to cease and desist from committing violations of the Foreign Corrupt Practices Act and pay the settlement, according to the SEC. “The creation of off-book slush funds inherently gives rise to the risk those funds will be use
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