Friday, January 04, 2013
Making Sure That Bribes Don’t Pay
On the 15th anniversary of the signing of the OECD Anti-Bribery Convention, the OECD and Transparency International call on Parties to the Convention to step up enforcement of their anti-bribery laws.
In December 1997 the OECD Anti-Bribery Convention was signed in Paris. This was a major breakthrough because it committed the world’s leading exporting countries to prohibit bribery, thereby aiming to turn off the spigot on the supply-side of global corruption. Previously only one government had made foreign bribery a crime. Most other governments had treated foreign bribe payments as legitimate business expenses for tax purposes. It is now universally recognized that foreign bribery distorts competition, undermines good governance, and hurts the most vulnerable.
See full Press Release: http://www.oecd.org/corruption/makingsurethatbribesdontpay.htm