This week Standard Chartered Bank reached a second settlement with regulators in New York for failing to monitor suspicious financial transactions. It had also promised to tighten up its anti-money laundering processes when it admitted violating US banking rules on transactions with countries under sanction including Sudan and Iran. Perhaps it didn’t get the message. […]
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Why governance matters for development: critics listen up!
The framing is simple but the implications are huge: to end poverty, you have to end corruption. Transparency International has been using this argument since it was founded over 20 years ago. There now appears to be a ground swell of people from the countries which donate the most to development, who agree with us. […]
G20 anti-corruption meeting: progress, but without ambition
The G20 is making progress in the fight against corruption. However for all the talk, the representatives of the world’s leading economies are not setting the bar high enough. From our point of view, unless the G20 mandates and enforces greater corporate transparency, corrupt public officials, gangsters, drug dealers and terrorists will continue to misuse […]
How the G20 could unmask the corrupt
The G20 leaders meet in Australia later this year. Pressure is growing on them to build on the commitments from last June’s G8 Summit on beneficial ownership. That’s an obscure phrase for an ugly truth: corrupt individuals from around the world are able to hide their money through complex corporate and trust structures, such that when an […]
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 […]
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 […]
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 […]
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.
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 […]
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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