OECD Not Pleased With France's Anti-Corruption Efforts

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OECD Not Pleased With France's Anti-Corruption Efforts

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#OECD working groups analyzing France's corruption efforts. Where do they go from here? http://3bl.me/m3s3mm

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Tuesday, January 20, 2015 - 4:20pm

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Most, if not all countries have their issues involving corruption. Corruption is an on going issue that targets both private and public entities and has the ability to significantly alter global business trends. The Organization for Economic Co-operation and Development (OECD) published an assessment that was conducted on Frances policies and procedures. Its findings concluded that there were principal flaws on the enforcement of the U.K. Bribery act and other corruption laws.  In an article written by Alistair Craig, of the FCPA Blog, the assessment highlighted key areas in which the French government lacked in initiative for enforcing its corruption laws

“It highlights “the authorities’ lack of initiative in cases involving French enterprises and proven or presumed instances of foreign bribery” and puts into context recent and severe international enforcement actions against French companies. The assessment follows up on the OECD’s October formal declaration that France was not sufficiently in compliance with the OECD Convention and its request for expeditious implementation.”

Although the assessment analyzed negatives from the lack of anti-corruption enforcement several positives did come about.

“A number of positive achievements were noted in the OECD working group's follow up: such as the commencement of 24 investigations, the stiffening of financial penalties, the abolition of Ministry of Justice’s instructions to prosecutors, the establishment of a national financial prosecutor tasked with pursuing foreign bribery cases, the ability of anti-corruption organizations to file civil anti-bribery claims and the ability of foreign victims to bring claims for acts committed within France."

Finally, in response to such negative feedback from the OECD working group, France officials responded, in addition to its one hour training module to all French diplomats, it also sends a telegram each year to all diplomats and consular stations, reminding them of  “France’s obligation to combat bribery and corruption and make them aware of the foreign bribery issue.”

It seems to be that countries and government bodies are in need of a program that enables them to be in front of any corruption related issue. Efforts needed to combat a problem such as corruption are becoming increasingly much more advanced. With the global economy growing and so many people being connected to these global brands, companies are finding ways to manage and over see the work being performed by their suppliers and 3rd party business partners. First and foremost, addressing your global corruption risk should be top priority when figuring out your position on anti-corruption. Without proper analysis of where your threats are, they could potentially show up within your value chain. Our webinar, Case Study Roadmap: Addressing Global Corruption Risk will offer valuable insight and possible solutions for anyone conducting business locally and globally. Click here for more information.

Keywords: Business & Trade | Anti Corruption Blogs | Anti Corruption Compliance | Ethical Production & Consumption | FCPA | FCPA Blogs | Finance & Socially Responsible Investment | Reports | Source Intelligence | Technology | The FCPA Blog

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