Reports of millions of Kina being invested in properties off shore

Transparency International PNG (TIPNG) continues to be shocked by the extent of corruption being reported and its impact on the lives of ordinary Papua New Guineans. The media coverage of comments by Task Force Sweep Chief, Mr Sam Koim follows many similar comments in recent years. We have had statements by many leaders and wide ranging inquiries into the extent for fraud and theft.

It is common knowledge that many Papua New Guinean officials have acquired property and bank accounts in Australia well beyond their official earning capacity. The problem extends further than Australia. It is widely known that our officials have invested in New Zealand, Fiji, Vanuatu, Samoa and Solomon Islands and elsewhere. Clearly some such investments are legitimate as some officials have been successful in business. But many must be questionable.

“For a long time now TI PNG has been calling on its neighbors to help uncover suspicious investments, particularly in real estate. Once again we ask that our friends take action. Public exposure of the extent and value of investments our officials have accrued abroad will be of great benefit to PNG. Laws enacted in other counties making it possible for corruptly obtained funds to be confiscated and returned to the people of PNG would be of great benefit,” said Mr Stephens.

Mr Stephens added that foreign governments tend to see these issues as internal matters and prefer not to interfere. But our friends, the citizens of these countries, should be able to see that there is a good opportunity to help the people of PNG by insisting that laws be created or enforced to recover and repatriate the stolen assets of our people.