The Organisation for Economic Co-operation and Development (OECD) has for the first time released figures on the war on corruption waged by the 38 countries that are party to its anti-bribery convention. Its report details the number of investigations pursued, cases brought and sanctions imposed since the convention took effect in 1999.
Its findings include the following: 148 individuals and 77 entities were sanctioned under criminal proceedings for foreign bribery in 13 signatory countries between the convention's inception date and the end of 2009; at least 40 of the sanctioned individuals were sent to prison; combined fines of up to [euro]1.24bn were imposed on companies sanctioned for foreign bribery; and about 280 investigations are ongoing in 21 countries.
The OECD's secretary-general, Angel Gurria, stressed that it was important for more countries to sign up to the convention. "The recent financial crisis has highlighted how...