Israel has joined the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, becoming the 38th country to join it, the Manufacturers Association of Israel announced.
The Manufacturers Association said that convention is one of the OECD's key tools in its struggle against corruption. The convention stipulates that a businessperson or company that offers a bribe to a foreign public official, even through a mediator, risks criminal prosecution in his home country. This will now apply to Israeli companies and businesspeople.
In preparation for joining the convention, Israel amended the Criminal Code to include a new crime - bribing a foreign public official - which carries a maximum penalty of three and a half years in prison and fine of up to NIS 202,000, or up to four times the value of the benefit received for the bribe, whichever is higher. In the case of a company, it will be possible to convict both the company and the company officers involved in the bribery.
The Manufacturers Association added that Israel has worked hard in recent years to join the OECD anti-bribery convention, even though it is not a member of the organization. Joining the convention now is even more important given that it is an essential part of the process of Israel's accession to the OECD, which officially began in May 2007.
On June 26, an OECD delegation will visit Israel to review implementation of the principles of the anti-bribery convention. The OECD is a unique international forum whose members develop common economic and social policies.
Published by Globes [online], Israel business news - www.globes-online.com - on May 25, 2009
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