Britain fails to honour a key international anti-bribery convention
17 10 08 - 05:07 British business was on Friday branded with an unprecedented corruption health warning by the Organisation for Economic Co-operation and Development over London’s failure to combat corporate foreign bribery.The OECD’s key anti-bribery group said multinationals and international institutions dealing with British companies would face higher costs because they would have to take extra care to avoid becoming entangled in corruption.
The OECD group has no formal powers to impose sanctions against Britain or force companies to change their behaviour, but its criticisms will be widely noticed worldwide and could have both a reputational and practical impact on British multinationals.
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Britain used to be a nation reknowned for fair play, orderliness and reliability. What happened?
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