Corruption in International Economic Transactions

Corruption in international economic transactions refers to illicit practices where individuals, businesses, or public officials engage in bribery, extortion, or other corrupt activities to gain an unfair advantage in cross-border business dealings. This type of crime involves offering, giving, soliciting, or receiving bribes or kick-backs to influence decisions or secure favorable treatment in international trade, contracts, investments, or other economic activities. It undermines fair competition, distorts markets, and erodes trust in institutions. Laws and international conventions, such as the Foreign Corrupt Practices Act (FCPA) in the United States and the OECD Anti-Bribery Convention, aim to combat and penalize such corrupt practices to promote transparency and integrity in global business transactions. Spain’s Criminal Code contains specific provisions related to corruption in international economic transactions. Articles 286 bis to 286 quater penalize various forms of corruption, including bribery of foreign public officials, bribery in international business transactions, and influence peddling in international commerce.