- Risk key
- Low
- MODERATELY LOW
- MODERATE
- MODERATELY HIGH
- HIGH
Venezuela Corruption Report
Snapshot
Corruption represents a major obstacle for businesses operating or planning to invest in Venezuela. Most sectors of the Venezuelan economy suffer from endemic corruption, due to the highly politicized and ineffective judiciary that is inefficient in cracking down on corruption and impunity. The Venezuelan legal framework criminalizes several corruption offenses, including extortion, passive and active bribery and abuse of office. However, the legal framework does not include the bribery of foreign officials. Enforcement of anti-corruption legislation in the country is very weak, and government officials do engage in corrupt practices with impunity. Bribery and facilitation payments are widespread. Gifts given in return for an undue advantage are illegal under Venezuelan law; however, the practice is recurrent in most sectors.