The OECD Anti-Bribery Convention (officially Convention on Combating Bribery of Foreign Public Officials in International Business Transactions) is a convention of the OECD aimed at reducing corruption in developing countries by encouraging sanctions against bribery
in international business transactions carried out by companies based
in the Convention member countries. Its goal is to create a truly level
playing field in today's international business environment.
In 1989, the OECD established ad hoc working group for comparative review of national legislations regarding the bribery of foreign public officials. In 1994, the OECD Ministerial Council adopted the Recommendation of the Council on Bribery in International Business Transactions; the revised recommendation was adopted in 2007. The ad hoc working group was replaced by the OECD Working Group on Bribery in International Business Transactions. The convention was signed on 17 December 1997 and came into force on 15 February 199
Colombia is the most recent state to have ratified the OECD Anti-Bribery Convention, having done so on January 19, 2013.[2] Other countries that have participated as observers in the Working Group include China, Peru, Indonesia, and Malaysia.
In 1989, the OECD established ad hoc working group for comparative review of national legislations regarding the bribery of foreign public officials. In 1994, the OECD Ministerial Council adopted the Recommendation of the Council on Bribery in International Business Transactions; the revised recommendation was adopted in 2007. The ad hoc working group was replaced by the OECD Working Group on Bribery in International Business Transactions. The convention was signed on 17 December 1997 and came into force on 15 February 199