FSA Fines Aon over Weak Anti-Bribery Controls

LONDON (AP) -- Britain's Financial Services Authority fined insurance broker Aon Ltd. 5.25 million pounds ($8 million) on Thursday for weak anti-bribery controls - the largest penalty of its kind.

The regulator said that London-based Aon failed "to take reasonable care to establish and maintain effective systems and controls to counter the risks of bribery and corruption associated with making payments to overseas firms and individuals."

As, a result, the firm made various "suspicious payments" amounting to around $7 million, the FSA said.

The regulator noted that Aon benefited from a 30 percent discount on the fine, bringing it down from 7.5 million pounds, because of its cooperation in the investigation and agreement to an early settlement.

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