G20 vows to make companies, not only individuals, liable for graft

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July 10 2017

Adopting a strong resolution to fight corruption, India and other G20 members have committed to make their public administrations more resilient against the menace, while ensuring that companies too are held liable in addition to individual perpetrators of this crime.   The declaration assumes significance as an OECD Anti- Bribery Convention, adopted nearly a decade ago, has been actively enforced so far only by a few countries and the prosecution rate is dismal even in the majority of the countries having ratified it.