Investigating allegations of corrupt practice in India: Walmart

November 15, 2012 20:49

World's largest retailer Walmart today said it is investigating allegations of corrupt practices against it in foreign markets, including India.

In March 2011, the US-based company had started a worldwide review of its policies, practices and internal controls for Foreign Corrupt Practices Act compliance.

"We have inquiries or investigations regarding allegations of potential FCPA violations in a number of foreign markets where we operate regarding FCPA allegations, including but not limited to Brazil, China and India. This is in addition to the ongoing investigation in Mexico," the company said in a statement.

Foreign Corrupt Practices Act of the US bars bribing officials of foreign governments.

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