Widgetized Section

Go to Admin » Appearance » Widgets » and move Gabfire Widget: Social into that MastheadOverlay zone

OECD Foreign Bribery Report 2014: most bribes are paid by big companies in developed economies.

According to new OECD analysis of the cost of foreign bribery and corruption, the majority of the  international bribes are paid by large companies, most of them with the knowledge of senior management,

Bribes in the OECD report equalled 10.9% of the total transaction value on average, and 34.5% of the profits – equal to USD 13.8 million per bribe. But the bribe transactions are complex, says the OECD.

Most of the bribes are paid to win contracts from state-owned or controlled companies in developed economies, rather than in the Third World, and most bribe payers and takers are from wealthy countries.

The OECD Foreign Bribery Report of 2014 analyses more than 400 cases worldwide involving companies or individuals from the 41 signatory countries to the OECD Anti-Bribery Convention who were involved in bribing foreign public officials. The cases took place between February 1999, when the Convention came into force, and June 2014.