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CORRUPTION NEWS

Political Party Funding Act comes into operation on 1 April

Source: The Presidency In a historic development for transparency and accountability in South Africa, President Cyril Ramaphosa has determined that the Political Party Funding Act will come into operation on 1 April 2021.President Ramaphosa signed a proclamation on the commencement of the Political Party Funding Act, 2018 (Act no. 6 of 2018), which regulates public Read more >

FEATURE

Business as usual – and more – for CW during 2020

By Patience Mkosana and Phemelo Khaas The year 2020 brought unprecedented challenges due to the profound effect of the Covid-19 pandemic on the lives of millions of people around the world. The enforcement of lockdowns to contain the spread of the virus meant that people had to quickly adopt different ways of doing things. Likewise, Read more >

CORRUPTION NEWS

TI calls for stakeholder action in beneficial ownership appeal

South Africa, despite commitments made several years ago, has to date failed to establish a public register of beneficial owners – the person or people who ultimately benefit from a company’s operations. This laxity allows government officials to continue doing business with the state, despite a prohibition of such, and shell companies to continue to Read more >

PRESS RELEASES

Media advisory: launch of Transparency in Corporate Reporting 2020

Members of the media are invited to a webinar launch of the Transparency in Corporate Reporting 2020 report. The event takes place on 2 December, and is hosted by Corruption Watch and the ODI, an independent London-based global think tank, in partnership with the National Business Initiative. The report evaluates the transparency of corporate reporting Read more >

CORRUPTION NEWS

Global private sector concerned about bribery, corruption and tax evasion

A survey of the private sector conducted by the UN’s high-level panel on financial accountability, transparency and integrity (FACTI), reveals that more than 90% of respondents would welcome stronger financial accountability, transparency and integrity regulattions when all businesses are held to the same standards. The survey was conducted anonymously online from 12 to 31 August, 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 >

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