No longer business as usual: fighting bribery and corruption

Not so long ago, bribing public officials in foreign countries to obtain business deals was, if not an acceptable, at least a tolerated business practice in many OECD countries. In the new millenium, the OECD and associated governments, which account for over 75 per cent of trade and investment worldwide, will play by stricter rules. The Convention on combating Bribery of Foreign Public Officials in International Business Transactions will outlaw the practice of bribing foreign officials, making competition for international business much more fair and open. Bribery in commercial transactions is only part of the problem. A whole arsenal of legal instruments to combat corruption has now been developed to improve ethical standards in the public sector, to end tax deductibility for bribes, to curtail money laundering, and to clean up public procurement practices. The private sector and civil society will continue to play a critical role in making these new rules a reality. This book provides the key elements needed to build and preserve corruption-free institutions, systems, and private enterprises