World leaders agree to tackle corruption

World leaders meeting in London for an international anti-corruption meeting have agreed new measures to tackle corruption. “We see tackling corruption as a top priority, at home and abroad, and [take] action to prevent corruption and to ensure it does not fester in our institutions, businesses and communities,” the world leaders said in a communiqué […]

World leaders meeting in London for an international anti-corruption meeting have agreed new measures to tackle corruption.

“We see tackling corruption as a top priority, at home and abroad, and [take] action to prevent corruption and to ensure it does not fester in our institutions, businesses and communities,” the world leaders said in a communiqué at the end of the meeting.

“We will seek to uncover where it exists, and to pursue and punish those who perpetrate, facilitate or commit to make it easier for people to report suspected acts of corruption [to] communities that have suffered from it.”

The leaders said they will tackle corruption by promoting “integrity, transparency and also exploring innovative solutions and new technologies, and by strengthening cooperation.”

President Muhammadu Buhari in his address at the summit said governments “must demonstrate unquestionable political will and commitment to the fight.”

“The private sector must come clean and be transparent, and civil society, while keeping a watch on all stakeholders, must act and report with a sense of responsibility and objectivity,” Buhari added.

The communiqué said, “Corruption is at the heart of so many of the world’s problems. It erodes public trust in government, undermines the rule of law, and may give rise to political and economic grievances that may, in conjunction with other factors, fuel violent extremism.”

The communiqué contains:

•       A pledge to create an international centre to share information between law enforcement agencies tracking corrupt money

•       An international forum to speed up the return of stolen assets

•       11 new jurisdictions have agreed to share information on beneficial ownership behind closed doors

•       An International Sport Integrity Partnership will be launched in 2017

The results of the meeting are seen as mixed but positive, said Robert Palmer of anti-corruption group Global Witness.

“The tide is definitely moving toward transparency, and the tax havens and the US are being left behind,” he said.

But Mark Godlring, chief executive of Oxfam in the UK adds to concern that the anti-corruption ommuniue doesn’t go for enough.

“If corruption is a cancer then this summit has delivered some pain relief but not the major surgery needed to heal the global economy,” Goldring said.

“Until tax havens are required to publish public registers showing who really profits from shell companies, the corruption and tax dodging revealed by the Panama Papers will continue undisturbed and millions of people in both the UK and the world’s poorest countries will pay the price.”

 

THE LONG LIST

Only six countries have agreed to publish a register of beneficial ownership, listing the owners of companies in their territories, the BBC reported on its liveblog on the anti-corruption summit.

They include Britain, Afghanistan, Kenya, France, the Netherlands and Nigeria, where anti-corruption groups have been pushing for such a register.

Six more, including Australia, will consider doing so.

“Eleven countries will join the now 29-strong group where lists of beneficial owners are drawn up and shared between governments, although not publicly,” said the report.

“Those countries include Cayman Islands, Jersey, Bermuda, the Isle of Man and the UAE.”

The US is not among nations sharing information on beneficial ownership, said José Ugaz, chair of Transparency International.

“We called on countries to be ambitious and concrete in their proposals to prevent and punish corruption and protect those who stand up against it. Some countries have risen to the challenge and others have not.”