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CW VOICES

Enablers galore: the countries that contribute to illicit financial crimes

By Janine Erasmus – CW Voices In part one of our latest mini-series, we posed the question: who are the real corrupt countries in today’s globalised context? We considered factors such as beneficial ownership transparency, the implementation of the African Union Anti-Corruption Convention, and pan-African collaboration in anti-corruption research. The usual suspects such as Nigeria Read more >

OPINIONS

Will Africa become Russian oligarchs’ new safe haven? 

First published on Financial Transparency Coalition  During the last decade, Russia has expanded its interests and presence in Africa by investing in the mining sector and increasing military support to fragile states, primarily through private military contractors and mercenaries. One of Africa’s most prominent private military groups is the Wagner Group, believed to be financed by one Read more >

CORRUPTION NEWS

Developed countries highly complicit in financial secrecy 

Illicit financial flows create an unjust society and further worsen inequality, especially for underdeveloped countries. This is the message from the Tax Justice Network (TJN), which released its 2022 Financial Secrecy Index (FSI) on 16 May.  The FSI is a ranking of jurisdictions which fuel financial secrecy by helping individuals to hide their finances from 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

Accelerating beneficial ownership transparency in Africa

By Maureen Kariuki, Karabo Rajuili and and Edwin Wuadom WardenFirst published on Open Government Partnership Corporate anonymity poses significant risks to domestic resource mobilisation in Africa. Research by the UN Conference on Trade and Development (UNCTAD) suggests that African countries can retain an estimated US$89-billion per year if illicit capital flight can be addressed. Accelerating Read more >

CORRUPTION NEWS

Dismantle the secrecy surrounding legal vehicles and their assets

Beneficial ownership is back in the news at the moment. Opacity in knowledge of the real person behind a company, trust, or corporation, and who will ultimately benefit from its activities – the beneficial owner – is crucial to combating money laundering, tax abuse, and corruption.   Illicit financial flows (IFFs) cost money, resources, and Read more >

CORRUPTION NEWS

AU: 2018 is the African anti-corruption year

By Liesl Louw-Vaudran First published on the Institute for Security Studies (ISS) The African Union (AU) has marked 2018 as the African anti-corruption year, with the theme of Winning the Fight Against Corruption: A Sustainable Path to Africa’s Transformation. Anti-corruption activists and organisations across the continent will be happy to hear this. It comes at Read more >