In light of increased emphasis put on fighting bribery in international business, the Ministry for Foreign Affairs, in cooperation with the Ministry of the Interior, has distributed an information sheet to all Icelandic embassies and missions abroad regarding this matter. The information sheet draws the attention to the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions. The Convention underlines the fact that bribery undermines good governance and economic development and distorts international competitive conditions.
The Icelandic Government places emphasis on following through with the provisions of international conventions but it is also in the best interests of companies and individuals to be informed of applicable laws, how they can comply with important disclosure requirements,and generally follow good practices. Representatives of companies or others who become aware of an act of bribery abroad may report the incident to Iceland's diplomatic missions and also contact the Icelandic police authorities. Indications and inquiries should be addressed to the Office of the District Public Prosecutor responsible for the investigation of economic crimes.