2016_UKAntiCorruptionSummitPanel_1300

The 12 May Anti-Corruption Summit in London tackled some of the biggest corruption problems around the world, including secrecy in the movement of corrupt money around the financial system, public contracting, health and sport.

Forty countries signed up to general principles and signed a global declaration, and some made specific country commitments. Transparency International welcomes the spirit of commitment and will look at all the fine print to see how we as civil society can ensure that words turn into actions.

The emphasis was on working together and sharing information on company ownership and control, country-by-country reporting of multinational profits and illicit financial flows.

AMBITIOUS COMMITMENTS BUT MORE TO DO

More than 40 countries attended the Summit, which was the first of its kind to bring together leaders to discuss corruption in a transparent and inclusive manner. Business and civil society representatives including Transparency International were invited to attend.

Six countries (Afghanistan, France, Kenya, the Netherlands, Nigeria and the UK) signed up to publish registries of who owns and controls companies, and six more (Australia, Georgia, Indonesia, Ireland, New Zealand and Norway) agreed to work to explore doing so. More will share information behind closed doors. Australia disappointingly moved to explore rather than commit to a public registry.

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