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OECD moves forward on tax transparency

Last September G20 leaders moved towards greater transparency to crack down on tax evasion. They promised a “new global standard” to increase the exchange of financial information between countries. Whereas today tax authorities have to chase information from others authorities if and when they suspect foul play, this new standard will require any jurisdiction signing […]

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New year’s resolution: learn the language of bankers

If you have not yet made it to the gym, fear not. Exchange that new year’s resolution for another: learn a new language. But make sure you learn one which has a more practical purpose than ordering a drink or finding one’s way to the swimming pool. It’s time to learn the lingo of bankers […]

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Lights, camera – was there G20 action?

So now that the G20 dust has settled and the media circus has dispersed, did the representatives of two-thirds of the global population make any meaningful decisions in St Petersburg? The final St Petersburg G20 Leaders Declaration has 11 paragraphs devoted to corruption efforts. This greater visibility is welcome progress from the two sentences included […]

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L’Aquila: Rebuilding lives beyond corruption

While politicians are busy recomposing the puzzle, people are struggling to make ends meet. Citizens are aware of the toll that corruption takes on their present and on their future and the youth is ready to speak up and claim its rights to fair and clean governance, as the following video shows.

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Looking back makes the outlook for corruption fighting bright

It was late 1992 and Peter Eigen was putting the finishing touches to plans that would see the launch of Transparency International in 1993. For several years Eigen, then a veteran World Bank senior official, had been waging a campaign inside the Bank and across the development aid community to build understanding of how corruption […]

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Is the G20 serious about fighting corruption?

In the past weeks we have witnessed a great deal of news surrounding issues of transparency and accountability of multinational companies. In the UK, several international corporations including Starbucks, Google, and Amazon, have been questioned in Parliament over the little corporation tax they pay despite their large UK accounts. Tax evasion is facilitated by the […]

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How Can We Curb Corruption in Supply Chains?

In a series of blog posts curated by the World Economic Forum’s Partnering Against Corruption Initiative (PACI), a number of leading voices will present their perspectives on anti-corruption in the run-up to World Anti-Corruption Day on 9 December. In the following post, Elaine Dezenski, Senior Director and Head of PACI, World Economic Forum, underlines the […]

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G20 must address financial integrity as corruption surges through major banking

Allegations of insider trading at Nomura, money laundering at HSBC, interest rate manipulation at Barclays – it’s one scandal after another! Some say mega-banks are too complex to manage and control, others blame bad management, still others say the culture is rotten. Corruption abounds. Greed, secrecy, arrogance, lack of a moral compass, and opportunity all […]

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G20: Tackling tax evasion?

This week the heads of state from the G20 are meeting in Mexico, where we hope they will take action to meet their 2009 promise to end bank secrecy. One step already taken is making tax evasion a predicate offence for money laundering. What does that mean? Money laundering is defined as taking the proceeds […]

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Corruption, business, civil society and the G20

It is increasingly recognised that corruption can only be tackled effectively through the joint action of all stakeholders, i.e. the public sector, business and civil society. There is a growing trend to include the private sector in development initiatives to ensure that it becomes part of the solution rather than being part of the problem. […]

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