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Extreme wealth tax could boost the fiscus and help fight corruption

16 Apr 2025, 10:52

The concept of a wealth tax is a current hot topic of discussion around the world. There are numerous arguments for and against the practice, with some saying a wealth tax might be inequitable and place more of a burden on the middle class than the rich, and others saying a moderate, progressive tax is Read more >

CORRUPTION NEWS

SA has just two action items to resolve for grey list exit, says FATF

24 Feb 2025, 10:12

Last week we reported on steps taken by South Africa to enable its removal from the Financial Action Task Force (FATF) grey list, to which the country was added in February 2023. The FATF is the international standard-setting body that oversees global compliance with anti-money laundering (AML) and counter financing of terrorism (CFT) rules. Its Read more >

CORRUPTION NEWS

SA hopeful of exiting FATF grey list in 2025, two years after list debut

21 Feb 2025, 11:59

South Africa hopes to move off the Financial Action Task Force (FATF) grey list this year. The country was grey-listed in February 2023, and has been working since then to resolve the eight strategic deficiencies, relating to combating money laundering and terrorist financing, that were identified in the FATF 2021 mutual evaluation review. The FATF is the Read more >

CORRUPTION NEWS

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

Artificial intelligence in anti-corruption: opportunities and challenges

10 Jan 2025, 11:04

By Soo Jin SoFirst posted on the Global Anticorruption Blog Artificial intelligence (AI) tools, with their capacity to efficiently process and analyse vast amounts of data, have enormous potential to enhance anti-corruption efforts. Traditional investigative methods, which often require extensive manual review of financial records, contracts, and communications, can be time-consuming and prone to human Read more >

CORRUPTION NEWS

Comments invited on the 2024 Draft General Laws (AML/CTF) Amendment Bill

09 Jan 2025, 11:51

The draft General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill is currently available for written comment. National Treasury (NT) published the bill in mid-December 2024. Submissions in writing must be received by no later than 6 February 2025. ”The publication of the draft Amendment Bill aims to demonstrate South Africa’s commitment to strengthening Read more >

CORRUPTION NEWS

Still no justice for workers impoverished by Fishrot corruption scandal

28 Nov 2024, 14:59

Image: Ester Mbathera Have you ever heard of the notion that “Corruption is a victimless crime”? This is something that corrupt people, and their supporters, would like us to believe. Even our own Jacob Zuma is reported to have said it. The truth, however, is that the victims of corruption are TNTC – a microbiological 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 >