NCR Investigating Syrian Allegations
NCR Corp., a Duluth-based ATM and payment systems maker, has launched an internal investigation into allegations that it violated U.S. sanctions prohibiting business operations in Syria and anti-bribery laws in Africa, China and the Middle East.
The company received the allegations from a “purported whistleblower” and has hired outside legal counsel to look into potential violations by NCR of the Foreign Corrupt Practices Act, according to an Aug. 14 filing with the Securities and Exchange Commission.
“NCR has certain concerns about the motivation of the purported whistleblower and the accuracy of the allegations it received, some of which appear to be untrue,” reads the filing, authored by NCR General Counsel Jennifer Daniels.
On Aug. 13, the Wall Street Journal reported that NCR may have continued to operate one of its subsidiaries in Syria despite heightened U.S. sanctions levied against the Middle Eastern regime for its brutal crackdown on protestors, which has sparked a civil war.
In the filing, NCR said it has ceased its “commercially insignificant” Syrian operations and it has notified the U.S. Treasury Department and Office of Foreign Assets Control of its actions.
NCR does not comment on ongoing internal investigations.
The company could face millions of dollars in fines and take serious hits to its growth in emerging markets like China, according to reports.
In 2009, the 125-year-old company relocated from its longtime home of Dayton, Ohio, to Duluth and has since acquired multiple subsidiaries, including Atlanta-based Radiant Systems Inc., to expand its products and reach into emerging markets.
To view NCR’s website, go to http://www.ncr.com.
This story first appeared on GlobalAtlanta Aug. 15.