Siemens took advantage of lax internal controls to make bribery and other unaccounted payments totaling nearly $1.4 billion from March 2001 through 2007, the DOJ and SEC said. Of that money, nearly $805.5 million went to bribery payments to foreign government officials, the DOJ and SEC press release said.

From 2000 to 2002, four Siemens subsidiaries were awarded 42 contracts with a combined value of more than $80 million with the Ministries of Electricity and Oil in Iraq under the United Nations Oil for Food Program. Those four subsidiaries paid more than $1.7 million in kickbacks to the Iraqi government, the DOJ and SEC said.

In addition, from September 1998 to 2007, Siemens Argentina made and caused to be made significant payments to various Argentine officials, both directly and indirectly, in exchange for favorable business treatment in connection with a $1 billion national identity card project, the press release said.

Siemens Argentina made about $3.3 million in corrupt payments to Argentine officials between March 2001, when Siemens AG was listed on the New York Stock Exchange, and 2007, the agencies said.

Siemens Venezuela made about $18.8 million in bribery payments to Venezuelan officials between November 2001 and May 2007, the agencies said. The payments were for favorable business treatment in major mass transit projects, the DOJ and SEC said.