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OECD Efforts Against Corruption
OECD Efforts Against Corruption
Time icon28 September 2018, 11:09 am

The Organization for Economic Cooperation and Development (OECD) is an inter-governmental unit that was formed by 36 countries. It enables the member countries to share practices that would help improve their respective economies while at the same time advocating for good practices. OECD highly condemns bribery amongst the members and urges the governments to punish culpable persons. 

 

Anti-Bribery Convention 

It is a not so uncommon practice for companies and businesses to engage in bribery to gain a competitive advantage in the market. OECD anti-bribery convention focuses on the detection, investigation and punishment of such perpetrators. The organisation offers a level ground for all companies to conduct trade. 

Since the introduction of the OECD anti-bribery convention, member countries have been able to combat corruption crimes strategically, especially those that occur across the borders. Previously, exporting companies would sometimes bribe the public officials. Now, companies are more aware of the consequences of such acts. 

The press has also been at the forefront to expose the companies that have been caught offering bribes to get through business turmoils. 

 

Anti-Bribery Efforts by OECD 

OECD has been at the forefront to fight corruption, and its efforts have borne fruit progressively. Germany, for instance, has continuously prosecuted companies and individuals who bribe public officials. However, concern has been raised that firms that offer bribes are less likely to suffer consequences, but corrupt individuals are almost always caught

 

Conclusion 

OECD brings together many countries around the world to encourage economic progress and to encourage good practices among them. It has launched a convention to fight corruption amongst individuals and companies. The organisation urges member countries to prosecute individuals and businesses that bribe public officers.

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