According to the US Security and Exchange Commission (SEC), these violations were conducted by Walmarts third-party intermediaries who made payments to foreign government officials without reasonable assurances that they complied with the Foreign Corrupt Practices Act or FCPA.
The SEC has charged Walmart with violating the FCPA by failing to operate a sufficient anti-corruption compliance programme for more than a decade as the retailer experienced rapid international growth.
Walmart agreed to pay more than USD 144 million to settle the SECs charges and approximately USD 138 million to resolve parallel criminal charges by the Department of Justice for a combined total of more than USD 282 million, according to SEC.
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