More than half of the largest exporting nations are doing little to nothing to prevent multinational companies from using bribery to gain access to overseas markets, according to a study released this week.
Anti-corruption watchdog Transparency International surveyed the 40 nations signed onto the Organisation for Economic Cooperation and Development’s Anti-Bribery Convention. The convention, signed in 1997, was intended to stop corporations from bribing foreign governments in order to win contracts or evade local tax and other laws. The report found that 30 of the 40 nations are not living up to the agreement. The group said those 30 nations are “barely” investigating and prosecuting cases of foreign bribery.
