U.S. flag

An official website of the United States government, Department of Justice.

NCJRS Virtual Library

The Virtual Library houses over 235,000 criminal justice resources, including all known OJP works.
Click here to search the NCJRS Virtual Library

Emerging Anti-Corruption Regime Versus International Financial Crime

NCJ Number
Crime & Justice International Volume: 16 Issue: 47 Dated: December 2000 Pages: 5-6,8
Timur Sinuraya M.A.
Date Published
December 2000
3 pages
Corruption seriously damages and erodes the integrity of governments and businesses through the acts of high-level bribery, tax evasion, procurement fraud, and other forms of abuse of power.
With billions of dollars lost annually, the problem of corruption has become a major issue in the international policy debate, and one that requires comprehensive anti-corruption measures from both public and private sector participants. The relationship between corruption and financial crime is longstanding and complex. In response to criminals who use corruption to perpetrate financial crimes, efforts are being made by international organizations to deal with corruption. The Convention on Combating Bribery of Foreign Public Officials in International Business Transactions was developed by the Organization for Economic Cooperation and Development (OECD) and went into effect in 1999. The Organization of American States signed the Inter-American Convention Against Corruption in 1996, and the Council of Europe developed the Criminal Law Convention on Corruption and the Civil Law Convention on Corruption in 1999. The emerging international anti-corruption regime has followed the trend set by the Foreign Corrupt Practices Act which established standards of behavior for U.S. international corporations operating abroad. In addition, multi-lateral lending institutions such as the International Monetary Fund and the World Bank have been actively incorporating anti-corruption guidelines into their projects. Measures being considered at the international level to combat corruption are examined in relation to provisions of the OECD convention and in terms of political, economic, and social issues that must be considered in compliance and enforcement. 5 references