A PYMNTS Company

Australia/US: Competition watchdog teams up with FBI to fight cartels

 |  April 15, 2019

Australia’s competition watchdog has entered an agreement with the United States’ Federal Bureau of Investigation to strengthen its work combating anti-competitive behaviour.

Australian Competition and Consumer Commission (ACCC) chairman Rod Sims said the watchdog was aiming to put two to three cartel cases before the court each year, and would be leveraging its relationship with the FBI to improve its investigative techniques. The ACCC is currently investigating 10 local cartel cases.

The memorandum of cooperation signed this week allows the ACCC and the FBI to exchange expertise and staff for the detection, investigation, and prosecution of criminal competition offences.

Mr Sims said the arrangement between the agencies was “certainly rare” and he was not aware of similar relationships.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.