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What does oecd anti-bribery convention mean?
- OECD Anti-Bribery Convention
- The OECD Anti-Bribery Convention (officially Convention on Combating Bribery of Foreign Public Officials in International Business Transactions) is an anti-corruption convention of the OECD aimed at reducing political corruption and corporate crime 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. The Convention requires adherents to criminalise acts of offering or giving bribe, but not of soliciting or receiving bribes. A 2017 study found that multinational corporations that were subject to the OECD Anti-Bribery Convention were less likely to engage in bribery than corporations that were based in non-member states.
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