Media Advisory: G20: Is the era of bank secrecy truly over?

Increasing evidence has come to light in recent months that fraud and corruption played roles in causing the financial crisis. As the Group of 20 convenes in Toronto on 26-27 June, Transparency International (TI), the global anti-corruption organisation, is available to provide an alternative perspective on the kind of actions the G20 must pursue in order to prevent a new crisis and restore trust.

Transparency, integrity and accountability measures must be at the core of reforms to end the era of opacity and limit systemic risks.

Relevant topics for commentary include:

• Tax havens and illicit flows
• Public oversight and better regulation of rating agencies, risky products, “too big to fail” corporations, investment funds, excessive leverage, executive compensation
• Anti-corruption commitments from countries and corporations that benefit from multilateral funding or national packages
• The role and actions of the Financial Stability Board, International Monetary Fund, Basel Committee on Banking Supervision

Interviews can be arranged in English or French.

For a summary of TI’s analysis and recommendations for the G20, click here. For detailed recommendations on the G20’s Progress Report on actions from the London, Washington and Pittsburgh summits, click here.

Transparency International is the civil society organisation leading the fight against corruption