<span style="color: #222222;">International retail giant Walmart yesterday agreed to pay over &nbsp;282 US Dollar to various US bodies to settle charges of violating anti-corruption regulations while conducting its business in India, China, Brazil and Mexico.</span><br />''<br />''According to the US Security and Exchange Commission (SEC), these violations were conducted by Walmart's third-party intermediaries who made payments to foreign government officials without reasonable assurances that they complied with the Foreign Corrupt Practices Act or FCPA.<br />''<br />''SEC has charged Walmart with violating FCPA by failing to operate a sufficient anti-corruption compliance programme for more than a decade as the retailer experienced rapid international growth.<br />''<br />''<span style="color: #222222;">Walmart agreed to pay more than &nbsp;144 million US Dollar to settle the SEC's charges and approximately &nbsp;138 million US Dollar to resolve parallel criminal charges by the Department of Justice for a combined total of more than 282 &nbsp;million US Dollar, SEC said.</span><br />
News On AIR | June 21, 2019 7:29 AM
Walmart to pay over 282 mn for violating anti-corruption regulations in 4 countries