In my Term Paper I would to cover very difficult subjects which are Bribery and Extortion committed in transactions, first let us present short definition and its descriptions:
Bribery is the practice of offering professional money or other favors in order to go around ethics in a variety of professions. It is a form of corruption and is generally illegal, or at least cause for penalties from professional organizations.
For example, a motorist may bribe a police officer not to issue a ticket for speeding, a citizen seeking paperwork or utility line connections may bribe a functionary for faster service, a construction company may bribe a civil servant to award a contract, or a narcotics smuggler may bribe a judge to lessen criminal penalties. In some cases, the briber holds a powerful role and controls the transaction; in other cases, a bribe may be effectively extracted from the person paying it.
Extortion is a criminal offense, which occurs when a person obtains money or other goods from another by threatening or inflicting harm to his person, reputation, or property
Blackmail is one kind of extortion — specifically, extortion by threatening another’s reputation with the disclosure of infamous statements about him. Even if it is not criminal to disclose the information, it constitutes extortion to demand money or other consideration not to disclose it. Extortion is distinguished from robbery. In robbery, the offender steals goods from the victim whilst threatening him with force. In extortion, the victim willingly turns the goods over to avoid a threatened violence or other harm.
What is beauty? An omnipresent characteristic, beauty has stolen the eyes of today's youth. As every body knows that inner beauty is considered to be more important than outer beauty. Though, it's obvious that inner beauty is the need of humanity, yet the younger generation nowadays, tend to they waste too much of their precious time on outer beauty rather than inner beauty. This matter is ...
One of the organizations that is Defender of the multilateral trading system is the International Chamber of Commerce (ICC), which was founded in 1919 with an overriding aim that remains unchanged: to serve world business by promoting trade and investment, open markets for goods and services, and the free flow of capital. ICC published in 1996 “Revisions to the ICC Rules”, which resulted in substantial progress has been made in addressing extortion and bribery in international business transactions. OECD (Organization for Economic Co-operation and Development) released” Convention on Combating Bribery of Foreign Public Officials” was signed by 34 countries in Paris on December 17, 1997 and entered into force in 15 February 1999. The OECD has established a monitoring program to assure effective and consistent implementation and enforcement of the Convention.
Other important anti-bribery initiatives have been launched by the World Bank, the International Monetary Fund, the European Union, the Council of Europe, the Organization of American States, the Pacific Basin Economic Council, the Global Coalition for Africa and the United Nations. Below I present main recommendations of ICC concerning prevention illegal actions committed in transitions.
Recommendations to Governments and International Organizations
Recommendations for international cooperation
Basic criminal statutes of virtually all countries clearly prohibit extortion and bribery. In the interest of developing consistent standards of criminal legislation in this field, each government should review its statutes to ensure that they effectively prohibit, in conformity with its jurisdictional and other basic legal principles, all aspects of both the giving and the taking of bribes including promises and solicitation of bribes. Where no such legislation exists, the governments concerned should introduce it; in those countries where extortion and bribery are already clearly prohibited, the relevant legislation should be perfected.
Corruption simply means dishonest or fraudulent conduct by those who are in power. Corruption is the evil which lead to the economic social and moral problems of a country. The man is greedy in nature so that’s why he desire more and more and for achieving his desire, sometime he chooses the path which is against his moral standards we have so many examples of corrupt people in the world. ...
Each government should take meaningful steps to enforce its legislation in this area. ICC also notes with approval that the OECD has urged governments to re-examine their legislation against extortion and bribery; action relating to the tax deductibility of bribes is of particular urgency. The WTO (World Trade Organization) should involve itself with these issues to support the OECD in the implementation of its Convention and Recommendation.
In order to deal with the problem of extortion and bribery, governments should, in conformity with their jurisdictional and other basic legal principles, take the following measures, if they have not already done so.
For the sake of transparency, procedures should be established providing for periodic reports to an authorized government body of measures taken to supervise government officials involved directly or indirectly in commercial transactions. Such reports should be open to publicity. For enterprises engaged in transactions with any government or with any enterprise owned or controlled by government, disclosure procedures should provide for access, upon specific request, by the appropriate government authorities to information as to agents dealing directly with public bodies or officials in connection with any particular transaction, and as to the payments to which such agents are entitled. Governments should ensure the confidentiality of any such information received from enterprises and safeguard the trade secrets incorporated therein.
when laying down any economic regulations or legislation, governments should, as far as possible, minimize the use of systems under which the carrying out of business requires the issuance of individual authorizations, permits, etc. Experience shows that such systems offer scope for extortion and bribery. This is because decisions involving the issue of permits or authorizations are frequently taken in ways which make it almost impossible to ensure effective control and supervision. Where individual permits and authorizations remain in place, governments should take appropriate measures to prevent their abuse.
Transactions with governments and international organizations
Such transactions should be subject to special safeguards to minimize the opportunities for their being influenced by extortion and bribery. The system for awarding government contracts might include disclosure, to an appropriate government entity independent of the one directly concerned in the transaction, as well as increased public disclosure, whenever feasible, of the criteria and conclusions upon which the award is based. ICC supports the growing practice of making government contracts dependent on undertakings to refrain from bribery, and recommends that such contracts should include appropriate provisions to ensure compliance with international, national or enterprise codes against extortion and bribery.
Siemens, originated by Werner von Siemens and Johann Georg Halske in 1847, now is one of the top companies which major business area is electrical engineering, and has millions of employees and operations in around 190 countries in the whole world. However, in 2007, two former managers of Siemens AG were proved to be guilty by a German court. The court accused them for giving money from company to ...
Undisclosed political contributions can be a source of abuse. Governments should regulate the conditions under which political contributions can be made. Where payments by enterprises to political parties, political committees or individual politicians are permitted by the applicable legislation, governments should enact legislation which ensures that such payments are publicly recorded by the payers and accounted for by the recipients.
Governments, in conformity with their jurisdictional and other basic legal principles, should ensure:
i) that adequate mechanisms exist for investigation
ii) that those who offer, demand, solicit or receive bribes in violation of their laws are subject to prosecution with appropriate penalties.
Cooperation in law enforcement
Governments should agree, under appropriate provisions for confidentiality, and in conformity with the OECD Convention, to exchange through law enforcement agencies relevant and material information for the purpose of criminal investigation and prosecution of cases of extortion and bribery. They should also continue to cooperate on matters involving extortion and bribery, on the basis of treaties providing for assistance in judicial and penal prosecution matters.
Role of international financial institutions
International financial institutions, e.g., the World Bank, the European Bank for Reconstruction and Development, should aim to make a significant contribution to the reduction of extortion and bribery in international business transactions. They should take all reasonable steps to ensure that corrupt practices do not occur in connection with projects which they are financing. Similarly, in negotiating cooperation agreements with non-member countries, whether countries with economies in transition or developing nations, the governing or coordinating bodies of the European Union, NAFTA (North American Free Trade Agreement), ASEAN (Association of Southeast Asian Nations)and other regional institutions, should seek to satisfy themselves that appropriate legislation and administrative machinery to combat extortion and bribery exists in the countries concerned.
Political Science 100 November 19, 1999 David Winchester Daren Shields Federalism: Federalism is a widely accepted system of government in North American cultures. To many North Americans it seems to be the obvious choice for all world governments, but this is not the case. In all honesty, federalism is a fairly unique form of government. Out of approximately two hundred nations on the earth one ...
Organizations like International Chamber of Commerce, World Trade Organization, GATT, Association of Southeast Asian Nations, North American Free Trade Agreement, European Union, have done a lot to overcome Bribery and Extortion in International transactions. However many things still remains do in particular in less develop, or developing countries, (i.e. Poland) in which the economy and government are still unstable .