The Belgian Competition Authority (BCA) has imposed substantial fines on security companies G4S and Seris for their participation in an illegal cartel. The cartel, which operated between 2008 and 2020, engaged in anti-competitive practices such as price fixing, bid rigging, and agreements not to poach each other's employees.
Securitas, another major player in the market, blew the whistle on the cartel and was granted immunity from fines. G4S and Seris, however, were fined €35.8 million and €11.2 million, respectively, after accepting a settlement with the BCA. These fines reflect the seriousness and duration of the cartel's activities, which distorted competition and harmed consumers in the Belgian security market.
The case also had significant repercussions for Jean-Paul Van Avermaet, who was the CEO of G4S at the time of the offenses. He later became the CEO of bpost, Belgium's postal service, but was forced to resign due to the ongoing investigation and charges filed against him in the United States.
