This 12 July 2013 British TV video says about itself:
G4S to be the subject of fraud probe
They’ve been accused of overcharging the government tens of millions of pounds for electronic tagging contracts: now the Serious Fraud Office has been called in to investigate private security firm G4S.
That was then in Britain. And now, in Belgium …
Translated from Belgian (conservative) daily De Standaard, 16 June 2020:
Just before the [coronavirus] lockdown, the Belgian Competition Authority (BMA) started a thorough and large-scale investigation into abuses in the security sector. The file revolves around illegal market practices by the main players: G4S, Securitas and Seris. The study also includes Jean-Paul Van Avermaet, until recently G4S country manager, and the [governmental postal service] Bpost CEO since 13 January.
One of the possible injured parties in the file is Van Avermaet’s current employer: the Belgian government. In recent years, it has increasingly appealed to security firms. Since the terrorist attacks, their importance has increased and they are increasingly acting as an extension of the police.
A new private security law was even introduced. This entailed new tasks for the sector and was described as “the Jambon Act”.
Banks and Zaventem airport also often use the services of security firms, as do many retail companies and organizers of mass events. They all belong to the possibly injured parties.
The security firms are suspected of overcharging their services for years. They are said to not only have made price agreements, but also agreements about price increases and the charging of costs. They are also said to have been guilty of dividing the market between them.