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Wal-Mart Investigates Overseas Corruption

BENTONVILLE, Ark. — Wal-Mart Stores is investigating potential corruption in its overseas practices, the company here said.

In a quarterly report filed with the Securities and Exchange Commission this week, Wal-Mart said it began an internal investigation “into whether certain matters, including permitting, licensing and inspections, were in compliance with the U.S. Foreign Corrupt Practices Act,” and that it had already taken unspecified remedial measures in relation to the investigation. The Foreign Corrupt Practices Act prohibits bribery and enforces accounting standards for U.S. companies doing international business.

A Wal-Mart spokesman in a statement provided to SN said its investigation “is currently focused on discrete incidents in specific areas,” but was not more specific. He added that the company had disclosed the investigation to federal authorities but could not determine what if any potential liabilities it could face as a result.

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