Avon may face £79 million cost to settle Chinese bribery probe

JL: Importance of making sure all of your staff understand the Bribery Act and have received adequate training.  RHR: “US cosmetics group Avon may have to spend up to $132 million (£79 million) to settle long-running allegations that it may have bribed officials in China and other new markets. The company, which is the world’s largest direct seller of beauty products, said that it has set aside the money in anticipation of any settlement although it could not guarantee such an outcome would be reached.
The U.S. government’s investigation under the US Foreign Corrupt Practices Act began in 2011, following an internal probe by Avon that started in 2008 into allegations of improper payments in China. Avon’s own probe has already cost the company about $300 million”.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s