Switzerland cracks down on bribery abroad
The Swiss government has joined an international campaign to fight cross-border corruption. It announced on Wednesday that from May, bribing foreign officials would become a criminal offence.
The Swiss government has joined an international campaign to fight cross-border corruption. It announced on Wednesday that from May, bribing foreign officials would become a criminal offence.
Switzerland’s current laws not only permit Swiss executives to give bribes abroad and at home, but also allow them to write the kickbacks off against tax if it can be proved the bribery served to win business contracts.
Under the new legislation, heavier penalties would also be introduced for bribing Swiss officials. Offering or accepting a bribe will no longer be considered as a misdemeanour with a maximum three-year penalty, but as a crime punishable by a maximum five years in prison. The statute of limitations will also be extended from five to 10 years.
The new norms are part of an anti-corruption convention drawn up by the Organisation for Economic Co-operation and Development. Switzerland is one of 20 countries that have ratified the accord since it was signed in 1997.
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