It
outlaws the payment of bribes to foreign officials, political
parties, party officials, and political candidates in foreign
countries. A similar law has now been adopted by Britain.
Yet, "The Economist" reports that the American SEC has brought only
three cases against listed companies until 1997. The US Department
of Justice brought another 30 cases. Britain has persecuted
successfully only one of its officials for overseas bribery since
1889. In the Netherlands bribery is tax deductible. Transparency
International now publishes a name and shame Bribery Payers Index to
complement its 91-country strong Corruption Perceptions Index.
Many rich world corporations and wealthy individuals make use of
off-shore havens or "special purpose entities" to launder money,
make illicit payments, avoid or evade taxes, and conceal assets or
liabilities. According to Swiss authorities, more than $40 billion
are held by Russians in its banking system alone. The figure may be
5 to 10 times higher in the tax havens of the United Kingdom.
In a survey it conducted last month of 82 companies in which it
invests, "Friends, Ivory, and Sime" found that only a quarter had
clear anti-corruption management and accountability systems in
place.
Tellingly only 35 countries signed the 1997 OECD "Convention on
Combating Bribery of Foreign Public Officials in International
Business Transactions" - including four non-OECD members: Chile,
Argentina, Bulgaria, and Brazil.
Pages:
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36