In this section
Offers for readers
Follow the news from interest
The comment stream
- 1 of 28052
- 1 of 393
The news stream
- New house listings drop 10.6% 95
- RBNZ's mission unwinnable 73
- Banks won't stand again in Epsom 27
- Record Auckland house prices 27
- First home buyer purchases rise 24
- Elevated inflation risks not hard to see 20
- 90 seconds at 9 am: It's all good news 19
- Asset sales to net $4.6-$5 bln 16
- Bill English 'politician of the year' 9
- Monday's Top 10 at 10 9
OECD says banks and finance companies need internal controls, ethics, and compliance measures to counter bribery and corruption risks
By Gareth Vaughan
The banking and finance sector is exposed to the risk of bribery and corruption and New Zealand companies in the sector should have internal controls, ethics and compliance measures in place to combat the risk, the OECD says.
As reported by interest.co.nz last week the OECD has issued a report on implementing the OECD anti-bribery convention in New Zealand, which raised concerns about "outdated perceptions" that New Zealanders and New Zealand companies don't engage in bribery. It says these perceptions could undermine detection efforts.
Answering follow up questions on the report Patrick Moulette, head of the OECD's anti-corruption division, told interest.co.nz the banking and finance sector is exposed to the risk of bribery and corruption.
This is an abridged version of this article. The full version was published in our email for paid subscribers. See here for more details and to subscribe.