Anti-corruption initiatives 

 Anti-corruption initiatives 

EFIC, as a member of the Export Credits Group (ECG) of the Organisation for Economic Co-operation and Development (OECD), complies with the OECD Council Recommendation on Bribery and Officially Supported Export Credits. The Recommendation outlines measures to be undertaken by ECG members to deter and combat bribery in connection with officially supported export credits.  These obligations, among others, include:

  • informing exporters and, where appropriate, applicants, of the legal consequences of engaging in bribery in international business transactions;
  • requiring exporters and, where appropriate, applicants, to disclose, upon demand: (i) the identity of persons acting on their behalf in connection with the transaction; and (ii) the amount and purpose of commissions and fees paid or agreed to be paid to such persons;
  • requiring exporters and, where appropriate, applicants, to provide a ‘no engagement in bribery’ declaration.  This declaration includes disclosure of cases where they, or anyone acting on their behalf in connection with a transaction, are currently under charge in a national court, or within a five-year period preceding the application, have been convicted in a national court or been subject to equivalent national administrative measures for violation of laws against bribery of foreign public officials of any country;
  • verifying and noting whether exporters and, where appropriate, applicants, are listed on the publicly available debarment list of the World Bank Group or of any similar financial institution; and
  • informing the law enforcement authorities if there is credible evidence that bribery was involved in the award or execution of the export contract.

Crime of bribing foreign officials

Bribery of foreign public officials is a crime. For further information on this offence, please visit the Attorney-General's Department website.

Transparency International

EFIC became a member of Transparency International Australia, the local chapter of Transparency International, in 2009. Transparency International is a global not-for-profit, non-government organisation focused on curbing corruption. EFIC’s membership demonstrates the Corporation’s commitment to anti-corruption measures in Australia and in the overseas countries in which EFIC’s clients operate.