The OECD Anti-Bribery Convention (officially OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions) is a convention of the OECD aimed at reducing corruption in developing countries by encouraging sanctions against bribery in international business transactions carried out by companies based in the Convention member countries. Its goal is to create a truly level playing field in today's international business environment.
The convention was signed on 17 December 1997 and came into force on 15 February 1999. Countries that have signed the Convention are required to put in place legislation that criminalises the act of bribing a foreign public official.
The OECD has no authority to implement the convention, but instead monitors implementation by participating countries. Countries are responsible for implementing laws and regulations that conform to the convention and therefore provide for enforcement. The OECD performs its monitoring function in a two-phased examination process. Phase I consists of a review of legislation implementing the conventions in the member country with the goal of evaluating the adequacy of the laws. Phase 2 assesses the effectiveness with which the legislation is applied.
, 38 countries have ratified the convention:
The Convention is open to accession by any country which is a member of the OECD or has become a full participant in the OECD Working Group on Bribery in International... Read More