Canada’s enforcement of laws against foreign bribery is weak, according to a recent report from the Organization for Economic Co-operation and Development (OECD).
A working group from the OECD has found that, in the nearly 25 years since Canada passed the Corruption of Foreign Public Officials Act and signed onto the OECD Anti-Bribery Convention, only two people have been convicted of foreign bribery and four companies have been sanctioned.
Corruption is a serious issue and a very costly threat to Canada’s foreign trade and international reputation. Although there are no reliable statistics on the exact amounts lost to global corruption, estimates range in the trillions of dollars. The OECD said Canada must do more to deter foreign bribery and other corruption offences.
