Walmart has agreed to pay $ 282 million to settle a long-standing investigation of suspicious payments that the world's largest retailer has received to obtain government licenses in countries like Mexico and Brazil. Data Exchange Commission has completed one of the largest investigations under the Corruption Practices Abroad Act, which makes it illegal for US corporations to bribe foreign officials.
The investigation, conducted by the two federal agencies, came after the New York Times. in 2012 Walmart has made suspicious payments to officials in Mexico and then tried to hide them from company headquarters in Bentonville, Ireland. cash packages for officials who buy zoning approvals, environmental fees reductions, and loyal
Company headmasters learned about abuses in 2005, but were subsequently closed internal investigations instead of reporting potential breaches of regulatory bodies. The federal investigations that followed the Times have expanded beyond Mexico to China, India, and Brazil.
On Thursday, S.E.C. said it had found that Walmart had failed to "complete enough anticorruption compliance program for more than a decade as the retailer is experiencing rapid international growth." from the retailer's payments to an intermediary known as the "sorceress" and "gin" because of that person's ability to quickly acquire building permits. the company will spend hundreds of millions on strengthening its compliance programs and dealing with investigations. of the Obama administration, The Times reported last November.