SICPA’s Brazil agreement: what does BRL 762.7 million cover?

The agreement’s framework

In June 2021, SICPA Brasil and CEPTIS reached a leniency agreement with Brazil’s Office of the Comptroller-General (CGU) and Attorney General’s Office (AGU). SICPA’s announcement recorded a commitment to pay BRL 762,736,310.10 in fines and restitution.

According to the statement, payment was structured in 21 instalments over 20 years. This was a commitment, not confirmation that the full amount had been paid when the agreement was announced.

What did the company acknowledge?

SICPA said it acknowledged strict liability for irregularities relating to certain payments. It also stressed that it had not admitted that the SICOBE I and II contracts were obtained fraudulently. That distinction reflects the company’s legal position as set out in its own statement.

Cooperation and compliance

SICPA Brasil and CEPTIS committed to continuing cooperation with Brazilian authorities and strengthening their compliance programmes.

This agreement is separate from the corporate liability decision announced in Switzerland in 2023. Combining amounts from different jurisdictions into a single penalty total without examining their scope may mislead readers.