The clearing up of the bribery scandals has cost Siemens around EUR three billion since their beginning two years ago. This sum also includes a reserve for fines still expected to be imposed by American and German authorities as well as EUR 520 million (Approx. USD 645 million) for back taxes.

While in the past quarter, Siemens also spent EUR 89 million (approx. USD 110 million) to build up its anticorruption organization and for external advisors, it expects such costs to decrease substantially in coming quarters since the compliance training of all relevant employees is nearly finished. Nevertheless, around 500 employees will likely remain responsible for anticorruption and anti-trust issues in the company.

According to Siemens, in the last year 909 offences against corporate compliance and corporate governance rules were punished internally, of which nearly all cases involving corruption originated from the time before November 2006. A quarter of all employees pursued ended up
losing their jobs while two thirds were warned and the others either left the company or accepted cuts in their salaries.