Israel widens bribery ban

The amendment to the law will enable Israel to joint the OECD Convention on bribing foreign officials.

The Knesset Constitution, Law and Justice Committee has approved for second and third reading an amendment to the Criminal Code [New Version] (1977) which sets a maximum prison sentence of three and half years for offering a bribe to a foreign official. The amendment defines a bribe as a payment designed to procure, guarantee, or promote business activity or any other business advantage.

Until now, the law addressed offenses of bribery relating to Israeli officials only. Under the law, the maximum penalty for giving a bribe to an Israeli official is three and a half years imprisonment, and the maximum penalty for accepting a bribe is seven years imprisonment.

The amendment to the law will enable Israel to join the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

Published by Globes [online], Israel business news - www.globes-online.com - on July 9, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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