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Fighting Corruption : US Attorney General Eric H. Holder on efforts to fight international corruption

Mon, 05/31/2010 - 9:24am
OECD
 

31 May 2010 - Paris, France

The US Attorney General Eric H. Holder gave a keynote speech on US efforts to fight international corruption, in the presence of the Secretary-General of the OECD, Angel Gurría, and the Permanent Representative of the United States to the OECD, Ambassador Karen Kornbluh, on 31 May at the OECD Conference Centre.

"For the global economy, corruption is dangerous," he said. "Bribery in international business, for example, may center on shell companies and wire transfers, but no matter where – or how – it happens, the corrosive result is the same: stymied development, lost confidence, and distorted competition.  The result is unfairness, not justice; the consequence is economic decay, not development."

 US Attorney General Eric H. Holder at OECD

See more photos from the press briefing

He also underlined US support for the OECD Anti-Bribery Convention and said that "prosecuting individuals is a cornerstone of our enforcement strategy because, as long as it remains a tactic, paying large monetary penalties cannot be viewed by the business community as merely "the cost of doing business."  The risk of heading to prison for bribery is real, from the boardroom to the warehouse."

The full speech is available here

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