OECD_Anti-Bribery_Convention
OECD Anti-Bribery Convention
Anti-corruption agreement among high-economic power countries
The OECD Anti-Bribery Convention (officially the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions) is an anti-corruption convention of the OECD that requires signatory countries to criminalize bribery of foreign public officials. The convention is a legally binding international agreement that focuses on the supply side of bribery by criminalizing acts of offering or giving bribes to foreign public officials by companies or individuals.[2] Its goal is to create a level playing field in the international business environment.
A 2017 study found that multinational corporations that were subject to the convention were less likely to engage in bribery than corporations that were based in non-member states.[3] A 2021 study found that the convention may increase bribery by firms from non-ABC member countries and lead firms in ABC member countries to shift to bribery through intermediaries in non-ABC member countries.[4]