The Australian Federal Police has accepted a $9 million settlement from engineering company SMEC, bringing a 13-year foreign bribery investigation to an end without prosecution.
SMEC, formerly known as the Snowy Mountains Engineering Corporation, agreed to pay the money under proceeds of crime legislation but made no admission of wrongdoing. The AFP did not refer the matter to the Commonwealth Director of Public Prosecutions.
The company continues to hold major government contracts and has worked on a number of public projects, including Snowy Hydro 2.0.
Andrea Quinn, head of the AFP’s anti-corruption division, said the outcome demonstrated that companies could still face substantial financial consequences after foreign bribery investigations, even where no prosecution followed.
“Noting the cooperation of SMEC throughout the investigation, companies identifying potential misconduct and engaging early, transparently and constructively with the AFP place themselves in a materially different position to those who do not,” Ms Quinn said.
“The AFP is committed to detecting, disrupting and deterring foreign bribery and any related criminal activity.”
SMEC is now owned by Surbana Jurong, a subsidiary of Singapore’s state investment company Temasek.
