illicit financial flows Archives

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Tax justice now – why the world needs a new global tax framework

21 Jan 2025, 13:24

For those who wonder why such a fuss is made about illicit financial flows in the form of tax abuse, here is the reason – countries around the world are losing US$492-billion in tax a year because multinational corporations and wealthy individuals are able to use tax havens to avoid or underpay tax. Nearly half Read more >

CORRUPTION NEWS

Where do illicit financial flows out of Africa go? TI follows the dirty money

08 Jan 2025, 13:02

Image: International Monetary Fund Illicit financial flows (IFFs) have been, and continue to be, a huge problem for developing countries, especially. They hinder countries’ ability to meet the UN sustainable development goals, because they undermine the fiscal systems which are in place to collect government revenue, and reduce the amount of funds available for development Read more >

CORRUPTION NEWS

Tackling corruption a key priority for SA’s G20 presidency in 2025

06 Jan 2025, 12:53

South Africa currently holds the G20 presidency, in a first for the African continent. Its term runs from 1 December 2024 to 30 November 2025 – coming to an end just five years before the deadline of the UN’s 2030 agenda for sustainable development, which encompasses the 17 sustainable development goals (SDGs). The country has Read more >

CORRUPTION NEWS

TI addresses land corruption in Africa from AU perspective, with new paper

22 Nov 2024, 13:08

Land governance in Africa is increasingly seen as a major challenge, because of the continent’s vast size, its swathes of rich arable land, its fast-growing population, and its food security challenges, among other factors. The UN’s Food and Agriculture Organisation defines land governance as “an existing system of rules, processes and structures by which decisions Read more >

CORRUPTION NEWS

G20 Rio declaration ignores corruption, risks exacerbating inequality and poverty

20 Nov 2024, 15:59

Image: Flickr/g20brasil24 The G20 leaders’ declaration released at the close of the Rio summit makes all the right noises regarding various issues ranging from global conflict and inequality to food security and climate change. However, its take on action against corruption is poor, to say the least. Out of 85 paragraphs in a 22-page document, Read more >

CORRUPTION NEWS

TI’s G20 chapters ask leaders for urgent anti-corruption action

14 Nov 2024, 14:51

Image: Flickr/G20 Brasil Ahead of the 2024 G20 Rio de Janeiro summit, where leaders will come together to discuss matters of critical import for countries around the world, Transparency International’s chapters in G20 countries have written an open letter to the delegates, urging them to walk their long-standing talk on corruption and take concrete action Read more >

CORRUPTION NEWS

First country ratifies the Asset Declaration Treaty

11 Oct 2024, 11:04

Image: Wikimedia Commons By Tilman HoppeFirst published on the Global Anticorruption Blog Requiring public official to disclose their assets, income, and other information about their personal finances can be an important tool for curbing corruption. The effectiveness of such a program depends crucially on the ability to verify the disclosures’ accuracy and in particular the Read more >

CORRUPTION NEWS

Tax havens continue to facilitate theft out of developing countries

09 Oct 2024, 12:46

Image: Flickr/Ryan Morrison Just weeks ago we reported on moves by UN member countries to begin the development of a UN tax convention under resolution 78/230. This would shift the responsibility for setting global tax rules from the OECD to the UN, a move which is expected to help to cut down on global tax Read more >

CORRUPTION NEWS

Beneficial ownership transparency under attack from secrecy enablers

09 May 2024, 14:58

When corruption is exposed, it is a given that the corrupt will fight back tooth and nail, clinging with all their might to that easy and lucrative source of income or power. A new report, released in April 2024 by the Tax Justice Network, reveals how those who operate in secrecy have found a strategy Read more >