Hewlett-Packard is cooperating with a U.S. Securities and Exchange Commission probe into allegations that the company bribed Russian officials in order to secure a 2003 computer contract. Hewlett-Packard is cooperating with a U.S. Securities and Exchange Commission probe into allegations that the company bribed Russian officials in order to secure a 2003 computer contract.On Wednesday, the company said that its Moscow offices had been raided, reportedly as part of a multimillion-dollar bribery investigation, spearheaded by German authorities. Thursday afternoon, HP confirmed that US authorities are now involved.“HP has been in communication with the SEC and will continue to fully cooperate with the authorities investigating this matter,” a company spokeswoman said via e-mail.The investigation centers around the 2003 €35 million (US$47.8 million) sale of computer systems to the office of Russia’s prosecutor general, coincidentally, the same office that investigates corruption cases in the country. According to reports, German and Russian investigators are looking into charges that HP paid €8 million in bribes to secure the contract.Even if a U.S. company commits bribery on foreign soil it is still illegal. The SEC can investigate bribery charges and bring civil actions against companies under the Foreign Corrupt Practices Act. But HP could be facing criminal charges, too. Those would be prosecuted by the U.S. Department of Justice. The Wall Street Journal first reported news of the SEC investigation Thursday. According to its report, one current HP executive was arrested by German authorities in connection with the investigation last December. Two former executives were also arrested, but none of the three has been formally charged.The alleged bribery occurred when former CEO Carly Fiorina was running the company. The HP board forced Fiorina out in 2005 over a series of issues related to the company’s performance. Fiorina is currently a Republican candidate for the California U.S. Senate seat that has long been held by Democrat Barbara Boxer. “This is an investigation of alleged conduct that occurred almost seven years ago, largely by employees no longer with HP. We are cooperating fully with the German and Russian authorities and will continue to conduct our own internal investigation,” the HP spokeswoman said via e-mail on Wednesday.FBI and SEC representatives did not return messages seeking comment for this story. A DOJ spokeswoman declined to comment on the matter. Related content news analysis DHS unveils one common platform for reporting cyber incidents Ahead of CISA cyber incident reporting regulations, DHS issued a report on harmonizing 52 cyber incident reporting requirements, presenting a model common reporting platform that could encompass them all. By Cynthia Brumfield Sep 25, 2023 10 mins Regulation Regulation Regulation news Chinese state actors behind espionage attacks on Southeast Asian government The distinct groups of activities formed three different clusters, each attributed to a specific APT group. By Shweta Sharma Sep 25, 2023 4 mins Advanced Persistent Threats Cyberattacks feature How to pick the best endpoint detection and response solution EDR software has emerged as one of the preeminent tools in the CISO’s arsenal. Here’s what to look for and what to avoid when choosing EDR software. By Linda Rosencrance Sep 25, 2023 10 mins Intrusion Detection Software Security Monitoring Software Data and Information Security feature Top cybersecurity M&A deals for 2023 Fears of recession, rising interest rates, mass tech layoffs, and conservative spending trends are likely to make dealmakers cautious, but an ever-increasing need to defend against bigger and faster attacks will likely keep M&A activity steady in By CSO Staff Sep 22, 2023 24 mins Mergers and Acquisitions Data and Information Security IT Leadership Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe