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Wal-Mart launches internal investigation for FCPA breach

Foreign Corrupt Practices Act

Wal-Mart has begun an investigation of its practices for potential regulatory compliance breaches.

Wal-Mart, the largest retailer in the world by a wide margin, has begun an investigation of its own businesses amid concerns that it might have broken portions of the Foreign Corrupt Practices Act, according to The Wall Street Journal.

Little information has been revealed about the probe, but the retail giant has made clear that the investigation is entirely an internal audit at this point and that the relevant U.S. authorities, the Department of Justice and the Securities Exchange Commission, have both been notified.

“We cannot reasonably estimate the potential liability, if any, related to these matters,” the filing said, according to Bloomberg. “However, based on the facts currently known, we do not believe that these matters will have a material adverse effect on our business, financial condition, results of operations or cash flows.”

The Wall Street Journal reports that the investigation pertains primarily to permitting, licensing and inspections of its foreign stores.

Wal-Mart has already come under fire abroad of late, with China launching a probe related to a mislabeling incident at its stores in Chongqing, according to Bloomberg.

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