‘All countries share a responsibility to combat bribery’, according to the OECD anti-bribery convention. But a bribery case in Hungary that has seen action in several other countries, but not Hungary itself, is testing that principle. There is no obstacle stopping British or Swedish law enforcers who investigated the sale of fighter jets to Hungary […]
Tag Archives | OECD Anti-Bribery Convention
Bribery in Nigeria tackled globally, but not at home
Companies caught bribing in nigeria have paid billions in fines, but not in Nigeria. A nigerian NGO tries to find out why. One of the reasons why there are so many foreign bribery cases going on related to Nigeria (see box below), is basically that corruption in Nigeria is deeply entrenched in almost every area […]
Bribery is bad for business
We ask businesspeople where they lose out to competitors’ corruption. One of the biggest corruption stories in the world this year was the allegation that Walmart paid bribes totalling US$24 million in its Mexican operations. It makes you wonder how many other companies lost out because of those bribes. A new survey gives us some […]
Foreign bribes in the Middle East & North Africa – Not just a regional problem
Recovery of stolen assets is a prime concern for Arab governments at the moment but what role did multinationals play in bribing former corrupt officials? A six month joint investigation published this week in British papers revealed that the country’s authorities have not been proactive in seizing key assets by the former Egyptian president Hosni […]
Corruption without borders
Stories of bribery and its impact around the world, from Greece to Mexico. 39 countries are signed up to the OECD Anti-Bribery Convention, meaning that they have agreed to investigate and prosecute businesses that use corrupt practices when conducting business abroad. We will publish a new report on Thursday showing a rise in prosecutions by […]
Dealing in the dark: Portugal’s sad defence contracts
On 06 September, Transparency International releases its annual report on enforcement of the OECD Anti-Bribery Convention. Right at the time the European Union is consumed with the debate over the debt crisis and politicians across the EU are busy playing the blame game, an interesting case going on in Portugal helps shed some light on […]
German business CEOs join chorus calling for UNCAC ratification
The world will wonder whether Germany is not committed to the fight against corruption, even though only the United States has prosecuted more companies for bribing foreign officials, as required by the international convention they have signed: the OECD anti-bribery Convention.
G20 must address financial integrity as corruption surges through major banking
Allegations of insider trading at Nomura, money laundering at HSBC, interest rate manipulation at Barclays – it’s one scandal after another! Some say mega-banks are too complex to manage and control, others blame bad management, still others say the culture is rotten. Corruption abounds. Greed, secrecy, arrogance, lack of a moral compass, and opportunity all […]
A bribery scheme to win market dominance in Mexico?
Over the weekend, the New York Times alleged that Wal-Mart deliberately hid investigations into bribery practices at the company’s largest foreign subsidiary, Wal-Mart de Mexico. Wal-Mart is Mexico’s largest private sector employer with currently 209,000 employees. Allegedly there is a paper trail that includes hundreds of suspect payments worth more 24 million USD in total. […]
Russia confirms plans to join the OECD Convention against bribery
In 1999 leaders from OECD countries took a big step in the fight against corruption and committed to holding their companies to account for their behaviour abroad. Until then, bribing abroad to win contracts had largely been tacitly accepted and was even a tax deductible expense in at least 14 OECD countries. Under the OECD […]
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