Combatting certain illegal business practices, e.g., bribery has proved difficult because of the diverse attitudes toward such practices in different countries. In the author's view, only effective international cooperation and a global strategy of prevention and repression can effectively control such offenses, as the Independent Commission Against Corruption in Hong Kong and the U.S. Foreign Corrupt Practices Act of 1977 demonstrate. The European Economic Community has also established an ad hoc committee on justice and protection against crime. The only international police organization, INTERPOL (International Criminal Police Organization), has proved ineffective in fighting international economic crime. INTERPOL adopted a resolution in 1976 calling for such measures as better extradition laws, improved information exchange, bilateral agreements on problems arising from bank confidentiality, broader access of national authorities to INTERPOL information, and creation of special police units in countries where they are lacking. The United Nations has also attempted to establish a Code of Conduct for transnational corporations. The proposed agreement ('International Accord on Illicit Payments') proposes preventive measures to be taken by states, feasible means of international cooperation, extrapenal measures (e.g., notification of authorities about payments made through intermediaries), and review of the measures taken by states in applying the proposed agreement. Notes and text of the proposed UN agreement are supplied.