The OECD Fights Corruption on a Global Scale

Organization for Economic Cooperation and Development  pic

Organization for Economic Cooperation and Development
Image: oecd.org

Tax planning and consulting professional Michael Mundaca serves as the co-director of the National Tax Department and Americas Tax Center at EY in Washington, DC. Prior to his role as co-director, Michael Mundaca worked as the assistant secretary for tax policy at the US Treasury Department, where his responsibilities included representing America in fora such as the Organization for Economic Cooperation and Development (OECD).

The OECD is an international forum in which representatives from 35 countries work to promote policies that will improve the economic and social well-being of people around the world. Within its work, the OECD dedicates resources to a long list of core issues, one of which is anti-corruption.

To help reduce corruption and limit the impact that it has on the world’s economic health, the OECD adopted in 2009 a policy guarding against the bribery of foreign policy officials. All members of the OECD have officially agreed to abide by the terms of this anti-bribery policy, along with non-member nations including Argentina, South Africa, and Russia. By agreeing to comply with these new corruption-combating standards, all participants have been required to integrate corporate liability for bribery into their legal systems and pass domestic foreign bribery laws of their own.

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