PRICE COLLUSION AS A TYPE OF CORPORATE FRAUD

05-07-2018 | 14:56

Head of FAS Anti-Cartel Department Andrey Tenishev was a speaker at a Pravo.ru conference on “Countering corporate fraud: the key stages and the main schemes”.  

He gave disappointing statistics about cartelization of Russian economy according to which FAS exposes around 400 cartels every year.

“Such anticompetitive agreements as restricting companies’ participation in procurement, “kick-back” for winning procurement,  fixing excessive contract price, rotating the winners – are just a part of possible risks related to procurement”, pointed out Head of FAS Anti-Cartel Department. 

Andrey Tenishev informed that the current administrative fines are commensurable with the seriousness of violations and sometimes reach several millions for an individual cartel member, which the cumulative fine for all cartel participants can be several billions. 

At the same time Head of FAS Anti-Cartel Department explained: “Business does not need multi-million fines, and the state would not lose if there is healthy competition at tenders and auctions. We think that а preliminary in-house control is an efficient measure and FAS is now working  on making in-house compliance a mitigating circumstance in possible violations and further fines”, said Andrey Tenishev.

 



Site Map

News & Events Press Releases Media Releases Image Library About the FAS Russia What We Do General Information Mission, Goals, Values Priority Setting Institutional Memory Stakeholders Engagement Center for Education and Methodics Our History Our Structure Powers of Head and Deputy Heads Our Ratings GCR Using our website International Cooperation Treaties & Agreements International Working Groups Working Group on Research of Competition Issues in the Market of International Telecommunications (Roaming) Meetings Working Group for Studying Competition Problems in the Pharmaceutical Sector Concept Note Meetings OECD Competition Committee OECD meetings 2013 OECD meetings 2014 OECD meetings 2015 OECD meetings 2016 OECD meetings 2017 OECD meetings 2018 FAS Annual Reports OECD-GVH RCC RCC Newsletter ICAP Council on Advertising Headquarters for Joint Investigations UNCTAD 13th session IGE UNCTAD Resolution Russian contributions 14th session IGE UNCTAD Resolution Russian contributions 15th session IGE UNCTAD 16th session IGE UNCTAD 17th session IGE UNCTAD EEU Model Law on Competition ICN BRICS WG (Markets of Social Importance) EU APEC Competition Policy and Law Group Annual meetings Projects ERRA Full Members Organizational Structure Archive Working Group on Investigating Issues on Pricing in the Oil and Oil Product Markets and Methods of their Functioning Meetings Document Library Legislation Reports & Analytics Cases & decisions Contacts Give feedback Contact us Links Authorities Worldwide