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Brazil: European banknote security firm faces probe

 |  July 16, 2015

A Swiss company that plays a central part in the printing of banknotes in Greece and other parts of Europe has been caught up in a corruption scandal in Brazil over the renewal of contracts worth €1.7 billion.

The Brazilian arm of Lausanne-based SICPA, which provides ink technology used for high-security printing across the globe, is being investigated by Brazil’s federal police and finance ministry over allegations it paid bribes worth 100 million Brazilian Real (€27 million) as part of a fraudulent bidding process.

According to the Brazilian finance ministry, the investigation started in 2013 when the incoming president of the Brazilian mint informed police that he had uncovered evidence suggesting employees had manipulated the tender process to benefit SICPA, which already supplies services to the mint.

Full content: Politico

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