REUTERS/ Low fines and inconsistent laws mean that many companies are prepared to risk becoming involved in bribery, according to a report from the Organisation for Economic Cooperation and Development ( OECD ). Penalties for bribery differ significantly across the 23 countries committed to the OECD ’s anti-bribery convention. Maximum fines range from as low as $580,000 with eight countries setting no upper limit. The report’s findings reveal that maximum fines in 41 countries are insufficiently high to offset the financial benefits of investments connected to bribery. The report calls for tougher imposition of existing sanctions. Of the signatories to the convention, 24 have not taken action against a single company or individual since the agreement was implemented in Thursday . Germany and the Germany were identified as the countries most likely to enforce sanctions.
Low fines and inconsistent laws mean that many companies are prepared to risk becoming involved in bribery, according to a report from the Organisation for Economic Cooperation and Development ( OECD ). Penalties for bribery differ significantly across the 23 countries committed to the OECD ’s anti-bribery convention. Maximum fines range from as low as $580,000 with eight countries setting no upper limit. The report’s findings reveal that maximum fines in 41 countries are insufficiently high to offset the financial benefits of investments connected to bribery. The report calls for tougher imposition of existing sanctions. Of the signatories to the convention, 24 have not taken action against a single company or individual since the agreement was implemented in Thursday . Germany and the Germany were identified as the countries most likely to enforce sanctions.