The SFO has announced the expiration of the first-ever Deferred Prosecution Agreement (DPA) that it entered into with Standard Bank, now known as ICBC Standard Bank (“ICBC”), in November 2015, resolving alleged violations of the Bribery Act. The investigation focused on payments to ICBC’s Tanzanian agents for the purpose of influencing the Tanzanian government to award a mandate to the bank’s Tanzanian affiliate and ICBC was indicted under Section 7 for failure of a commercial organization to prevent bribery. The terms of the DPA included payment of a $16.8 million fine and over $8.4 million in disgorgement. ICBC was also required to pay reasonable costs of the investigation to the SFO and a $6 million fine (plus interest) to the Tanzanian government. In addition, ICBC was required to fully and honestly cooperate with the SFO and other investigating authorities, including disclosing information regarding individuals involved, and to commission a review by an outside auditor of its internal anti-bribery and corruption compliance procedures, and to implement any recommendations. In the announcement, the SFO confirmed that ICBC fully complied with its obligations under the DPA.