June 30, 2019
Walmart Inc. reached a US$ 282.7 million FCPA settlement with the U.S. DOJ and the U.S. SEC stemming from books-and-records and internal-controls failures spanning more than a decade.
Between July 2000 to April 2011, per the agreed-upon findings, Walmart subsidiaries in Brazil, China, India, and Mexico made improper payments, gifts, and donations to various government officials via third-party intermediaries in order to obtain business advantages. The parent company failed to perform adequate oversight or to implement adequate controls while a number of corruption-related red flags went unheeded.
Visit the TRACE Compendium to view the complete entries, along with other updates from this month.