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The Siemens corruption scandal exposed the company’s systemic bribery practices across multiple countries to secure lucrative contracts. Investigations revealed the use of slush funds, falsified financial records, and intermediaries to conceal illegal payments. In 2008, Siemens faced fines totaling €1.6 billion, marking one of the largest corporate penalties for bribery in history. The scandal highlighted critical failures in corporate governance and ethics, prompting widespread reforms and serving as a cautionary tale for global businesses.
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