Reposted from the blog of Transparency International’s EU liaison office in Brussels. Corruption thrives in the dark, dank corners where no-one is looking, and banking is no exception. Who had heard of the LIBOR benchmark until the rate-rigging scandal erupted early last year? Now it is a byword for bad behaviour in banks. This week, […]
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Oil money in Gabon and Sierra Leone: from mirage to reality?
Many of the world’s poorest countries by per capita income are actually some of the richest in terms of natural resources. Trouble is, this wealth doesn’t reach citizens who, by rights, own the resources. That is why the Extractive Industry Transparency Initiative (EITI) was started in 2002: to get countries to agree to publish information […]
La transparence des revenus au Gabon et en Sierra Leone: du mirage à la réalité?
Par Lavina Banduah, Directrice exécutive de Transparency Sierra Leone et Marc Ona, Coordinateur de Publiez ce que vous payez Gabon. Beaucoup des pays les plus pauvres de la planète de par le revenu par habitant sont en fait parmi les plus riches en termes de ressources naturelles. Le problème est que cette richesse ne profite […]
New efforts to kill off the UK Bribery Act
This post was originally published in TI-UK‘s blog. Is there an assault being mounted to undermine the Bribery Act – before it has had a chance to take effect? Anecdotal evidence suggests this is the case – one visible sign is a recent letter to the FT (FT Letters, March 18th). I have some sympathy for the concerns expressed […]
One Thing We Learned from the U.S. Senate’s Too Big To Jail Hearing
Reposted from the blog of the Task Force on Financial Integrity & Economic Development Last week, the U.S. Senate Banking Committee held a hearing titled, “Patterns of Abuse: Assessing Bank Secrecy Act Compliance and Enforcement.” The committee called three regulators to testify: David Cohen, Under Secretary for Terrorism and Financial Intelligence, United States Department of the […]
Cross-continental promotion of corporate transparency
In July 2012 Transparency International published its report analysing the transparency of reporting on a range of anticorruption measures among the 105 largest publicly listed multinational companies. Assessing transparency in corporate reporting has been used by Transparency International for several years now and research for the next report scheduled for 2014 will start soon. The growth […]
HSBC, Panama: “Exit, stage right”
The moral relativism that traditionally infects multinationals in hot, corrupt countries is going out of style.” This is according to Jonathan Guthrie of the Financial Times, in discussing the decision of HSBC to close down its operations in Panama (Corruption Perceptions Index score in 2012: 38 out of 100). The decision was purportedly to increase […]
Swiss vote to regulate CEO pay
This Sunday the Swiss voted in favor of a constitutional initiative entitled “Initiative against abusive remunerations”. This follows the proposal of similar measure in the European Parliament, which we blogged about on Friday. The initiative, which applies to all quoted companies, squarely prohibits welcome packages and golden parachutes as well as bonuses in relation with […]
How well do we know our banks?
It’s your bank. You see it. Walk by it. Use the cash machine. Get a loan. But is your bank paying taxes to your government, just as you do? Does your bank report on its profits or on how many staff it employs? In short, is your bank contributing to your community and your economy? […]
“Corruption is a problem of standards”
An interview with Executive Director Galia Sagi and Project Coordinator Ido Feder about the working methods of Transparency International Israel, opportunities and challenges in the fight against corruption. Transparency International Israel was founded in 1999. Was there a specific reason? Galia Sagi: Transparency Israel was founded by Prof. Dov Izraeli. Lecturing at the Faculty of […]
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