The Organization for Economic Cooperation and Development told Sweden, Russia and Chile they all had to improve various aspects of their legal regimes targeting bribery.

In threeseparatereports released Wednesday, the OECD said Sweden needs to reform its corporate liability laws, Russia has to update its criminal code and Chile has to complete legislative reforms.

In Sweden, the maximum fine for corporations that engage in foreign bribery is only about 1.2 million euros, which the OECD said it considers inadequate. Because of the law's leniency, companies don't face sufficient punishment unless individuals are prosecuted or convicted, the OECD said, adding that the weakness of this practice is individuals can potentially flee, or die.

The OECD "stresses" its recommendation that Sweden ensure companies can be held responsible for the conduct of their employees under the direction of their managers, and it noted that current law contains potential loopholes that could enable Swedish companies to avoid liability by using foreigners to pay bribes.

The OECD's anti-bribery working group "has serious concerns" about Russia's "continued failure" to implement legislative reforms enabling it to investigate, prosecute and penalize those committing foreign bribery. It has "repeatedlyrecommended" that Russia "make urgent changes to its penal code and other relevant laws" for prohibiting Russian companies and individuals from bribing foreign officials.