SWITZERLAND TOLD TO DO MORE TO TACKLE BRIBERY

Switzerland has been told that it should apply tougher penalties and do more to prosecute companies for bribery.

The Organization for Economic Cooperation and Development (OECD) praised the Swiss Attorney General's office for expanding the number of bribery cases it is investigating. There has been an almost six-fold increase in money laundering and bribery probes between 2011 and 2016.

But the OECD’s year-long review of Swiss procedures stated that the country needed to improve protection for whistle blowers, reform its rules about legal assistance with other countries and ensure bribery sanctions are "effective, proportionate and dissuasive."

The OECD’s calls for Switzerland to get tougher on bribery, after the country has already shown a stronger desire to tackle it, reflects on ongoing trend. The past decade has seen many countries show a greater willingness to tighten their procedures and introduce new penalties for bribery.

Anyone trading abroad has to be aware of both the risks of bribery and the punishments that can be handed down for becoming involved in it.

Read our article: DEFENDING YOURSELF WHEN INTERNATIONAL BRIBERY ALLEGATIONS ARE MADE