In part 4 of our series on beneficial ownership transparency, we see that a good deal of the spate of illegal activity seen in recent years could have been alleviated, had accurate and accessible information on the true owners of companies been readily available. Continued corporate ownership opacity plays into the hands of criminals – but finally a global push for transparency is taking shape.
In part 3 of our new mini-series highlighting the current Financial Action Task Force beneficial ownership review process, we highlight the proposed amendments to Recommendation 24 and its interpretive note, with responses from stakeholders factored in.
In part 2 of our new mini-series highlighting the current Financial Action Task Force (FATF) beneficial ownership review process, we examine the five key recommendations submitted by Transparency International as a response to the FATF invitation. Part 1 presented the particular issues the financial watchdog had sought input on, part 3 will look at the FATF response to the call for submissions, and part 4 will recap a number of recent high-profile examples of why beneficial ownership transparency is so important.
In the past year, South Africans have endured not only the hardships of Covid-19 on top of everything else, but have been subjected to the outlandish and improbable promises of campaigning politicians gearing up for the local government elections. When casting our vote, writes Corruption Watch’s Melusi Ncala, we must keep in mind that their promises were many and their deliveries were few.
Corruption Watch recently analysed the spend by the South African Police Service on PPEs during the Covid-19 era, and the results reveal a disturbing trend of gross inflation of prices, fruitless and wasteful expenditure and possible corruption. The data was obtained from publicly available Treasury records – but if such revelations are not followed by consequences for the perpetrators, they might as well not bother.
These days civil society is more conscious about corruption, writes Ferial Haffajee, and this heightened awareness and resultant publicising of the issue can can make it seem things are getting worse rather than better. But corruption is being exposed – though not addressed – more frequently than ever before. This momentum will be lost, however, unless activism, investigation and prosecution are intensified.
The Public Service Commission, once a beacon of accountability for ethical professionalism in the public service, has turned into a mafia-style organisation in which staff members suffer relentless victimisation for exposing wrongdoing, says a whistle-blower. A new three-part series into our investigation of the situation at the entity shows that it is far from being the exemplar of good governance that it purports to be.
Today Corruption Watch released its first report that analyses procurement information drawn from National Treasury data captured between 2016 and 2020. The analysis was made possible by CW’s new online tool, Procurement Watch, which aggregates data from the individually published reports. The report focuses on trends regarding deviations and expansion of contracts, areas which can potentially raise red flags.
Corruption Watch has today released the first report from its new online tool Procurement Watch. The report analyses data held by the National Treasury. with a focus on reported deviations and expansions to contracts between 2016 and 2021, as well as an analysis of the available restricted supplier information.
Visit our GivenGain R20 for Change page and help us demand transparency in our systems, accountability in our leaders, and better empowerment and protection of whistle-blowers. By donating R20 a month, you’ll be supporting our work with communities across the country, helping them to know and access their rights and reduce the corruption that robs people of resources intended for their benefit.