Monday 23 June 2008
AUSTRALIA PRESENTS ANTI-CORRUPTION REPORT TO OECD
The Commonwealth Government presented its formal response last week in Paris to a report by the Organisation for Economic Cooperation and Development (OECD) on Australia's implementation of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.
The OECD has now expressed the view that Australia's implementation of the Convention is above average for OECD nations.
An OECD report published in January 2006 made recommendations focussing on three key areas:
- improving public and private sector awareness of Australia's laws against foreign bribery;
- improving investigation of foreign bribery; and
- specific measures for preventing and detecting foreign bribery.
The response details Australia's efforts to implement the seven principle recommendations.
The process for referring allegations of foreign bribery to the Australian Federal Police has been streamlined to ensure cases are awarded an 'essential' priority in investigation.
An awareness pack has also been distributed to all Government Departments, over 900 Australian companies and other peak bodies in line with another recommendation.
Corruption can have a devastating effect on the economies of developing nations and can be used by business to gain unfair market advantage, which is why we are committed to halting it in all its forms.
Ethical business practices are an important part of Australia's global reputation as a trading partner and help to improve our investment opportunities overseas.
The response, and the effort it details, is a major milestone in our ongoing commitment to combating corruption at home and abroad and ensuring our anti-corruption systems are world's best practice.
Bribing or attempting to bribe a foreign official is a serious crime. The maximum penalty is 10 years prison and or a fine of $66,000 for an individual or $$330,000 for a company.
Media Contact: Samantha Wills 0448 721 372