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CORRUPTION NEWS

Moving towards effective use of beneficial ownership data

By Louise Russell-Prywata and Tymon KiepeFirst published on Global Data Barometer Beneficial ownership is widely recognised as an essential piece of information for tackling corruption, preventing and investigating tax evasion, protecting national security, and creating sustainable trading environments. The goal – increasingly shared by governments, businesses, and citizens – is that people can access accurate Read more >

RAISING AWARENESS

Exposing Procurement Corruption: 10 Questions to Ask

By Richard MessickFirst published on the Global Anticorruption Blog No government activity is more susceptible to corruption than public procurement. The process by which government decides what to buy and from whom is lengthy, technically complex, and riddled with decision points that give procurement officers enormous discretion. Oversight is thus especially difficult.  Moreover, because so much Read more >

CORRUPTION NEWS

A global asset registry will boost equality and fight lawless wealth

Anonymous private wealth. Luxurious homes, state-of-the-art yachts and aircraft, priceless jewellery, valuable pieces of art, and more. Symbols of an ever-increasing global problem of financial inequality, and a proven driver also of corruption and tax abuse. Such wealth in the hands of a mere fraction of the global population is unsustainable – and as long Read more >

OPINIONS

New company ownership regulation a step in right direction

By Mashudu Masutha and Karabo RajuiliFirst published on News24 The Financial Action Task Force (FATF) is the global standard-setting body for combating money laundering, setting minimum standards via 40 recommendations. It has sanctioning mechanisms for countries that fail to comply. Recently, the organisation updated its Recommendation 24, which deals with beneficial ownership transparency – and Read more >

CORRUPTION NEWS

The day Russian money didn’t freeze – despite international sanctions

By Ilya ShumanovFirst published on The Wilson Center Russia’s recognising the self-declared Donetsk People’s Republic and Luhansk People’s Republic, followed by the Russian invasion of Ukraine, became a formal pretext for the collective West to impose restrictions on Russia in support of Ukraine’s territorial integrity. The negative consequences of such a scenario had been discussed Read more >

CORRUPTION NEWS

CW and other TI chapters urge FATF to move on beneficial ownership registers

Global anti-corruption organisation Transparency International (TI) has long been advocating for the establishment of a global standard for centralised, publicly accessible beneficial ownership registers – whose stored information has been verified. The organisation firmly believes such registers would allow everyone to see the true beneficiaries of anonymous companies, and help authorities, journalists and civil society Read more >

CORRUPTION NEWS

SA good on legal anti-money laundering framework, poor on implementation

In October the Financial Action Task Force (FATF) released its mutual evaluation report on South Africa, following an assessment of the country’s anti-money laundering, counter financing of terrorism and counter financing of proliferation of weapons of mass destruction (AML/CFT/CPF) systems.  The mutual evaluation was conducted by a team led by the International Monetary Fund and including officials from the Eastern and Southern Africa Anti-Money Laundering Group and FATF member countries. The team assessed compliance Read more >