KEY POINTS:
An OECD report says that although New Zealand has a very low degree of domestic corruption there should be no complacency about the risks of local companies using bribes in other countries.
An Organisation for Economic Co-operation and Development report on the country's implementation of measures to combat bribery found overall New Zealand had a good record when it came to tackling corruption.
However, "stronger efforts are necessary in several key areas".
The report said New Zealand wrongly assumed because there was a low tolerance for bribery domestically this would mean its companies would not engage in bribery overseas.
"There is little doubt that some internationally active New Zealand companies, including ones that can afford sophisticated legal and commercial advisers, may - like companies elsewhere - risk in engaging in illegal activity where the benefits appear to outweigh the costs. There are no grounds for complacency with regard to the fight against foreign bribery."
The report suggested widening the Serious Fraud Office's role to the investigation and prosecution of foreign bribery offences and tightening up current laws on the issue, making companies more accountable.
"New Zealand does not yet have a conviction for foreign bribery, but it has some investigative activity underway."
Foreign Minister Winston Peters said the report showed New Zealand had performed well compared to other OECD countries.
"We agree with the OECD that there are always improvements to be made," Mr Peters said.
"Officials are already reviewing anti-bribery and corruption laws in the Crimes Act and the Secret Commissions Act and will be introducing legislation making it easier to recover the proceeds of bribery."
- NZPA
