The Merida Convention, recognized as the first comprehensive and universal global anti-corruption treaty, incorporates four mechanisms—preventive measures, criminalization, international cooperation, and asset recovery—to facilitate the implementation of anti-corruption efforts in the domestic laws of member states. While the Convention is innovative in many respects, it suffers from weaknesses such as the use of non-binding language in certain provisions, dual criminality requirements, the lack of a robust oversight system, and the predominance of political considerations in the extradition of offenders and asset recovery processes. These shortcomings cannot be overlooked and hinder its real impact on state behavior. However, some of these issues stem from the Convention’s deliberate flexibility to ensure compatibility and enforceability within the legal frameworks of member states. This implies that the ultimate goal of the Convention is “effectiveness,” defined as an interdisciplinary approach and the utilization of all available tools to reduce corruption within the domestic systems of member states. A review of the Convention’s main mechanisms and an analysis of the concept of effectiveness demonstrate that, during the implementation of these mechanisms, corruption has decreased across its various dimensions, indicating relative success.