Siemens says it's making progress rooting out corrupt practices in the fall-out from its bribery scandal.

Siemens general counsel Peter Solmssen has told The Wall Street Journal that a special amnesty program saw about 110 employees coming forward with information about alleged wrongdoing. The company has identified 1.3 billion euros in suspicious transactions between 2000 and 2006 in what's likely to be the biggest corporate-bribery case ever. Many German employees initially were reluctant to act as informants because of memories about the methods used by the nazis and Stasi in previous decades but Solmssen told the WSJ that's changing as more start to accept that corrpution in the organization was systemic. "There was a cultural acceptance that this was the way to do business around the world, and we have to change that," he said.

Similarly, the company's new chief executive Peter Löscher (picture above) says the company's culture and standards have to change. He says there is no compromise and that corrupt business practices are simply not sustainable, he says in this interview from the Knowledge@Wharton series.

Maybe, but only time will tell. On one hand, the the US Justice Department and the Securities and Exchange Commission could impose stiff fines and sanctions against Siemens. Similarly, German prosecutors identified dozens of suspects since a raid of Siemens's headquarters in late 2006.

But the bottom line is that for all the color and movement, only one former company executive has been indicted so far. Watch this space.