Strengthened procedures to minimise the risk of bribery and corruption on business deals supported by the Export Credits Guarantee Department (ECGD) will come into force on 1 May 2004.
The measures - which aim to deter illegal payments to win overseas contracts, corrupt practices and also money laundering - underline ECGD’s continued commitment to combat bribery and corruption, and keep it at the forefront of international efforts within the Organisation for Economic Cooperation and Development (OECD).
They build on the significant strides made by ECGD in 2000 when it strengthened its anti-corruption measures to reflect international best practice.
They follow a further review of procedures required by Ministers in recent months.
Mike O’Brien, Minister for Trade, said: “These new measures ensure that the government continues to play its part in rooting out wrong-doing in international business transactions.
