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Sunday, September 23, 2012

Anti-Bribery Report: Prosecutions Are on the Rise - Compliance Week

Anti-Bribery Report: Prosecutions Are on the Rise - Compliance Week

Stringent anti-bribery laws around the globe are translating into more companies facing an increasing number of prosecutions, according to a new report from Transparency International (TI).
Every year TI monitors global compliance with the OECD's benchmark anti-bribery Convention. Its latest report, “Exporting Corruption? Country Enforcement of the OECD Anti-Bribery Convention. Progress Report 2012,” shows that bribery charges increasingly lead to fines, jail time, and reputational damage.

TI reviewed anti-corruption activity in 37 (out of a total of 39) parties to the Convention and discovered that, with 144 new cases in 2011, the total number of cases prosecuted increased from 564 in 2010 to 708 in all of 2011. In addition, 286 investigations remain ongoing.

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