#29Leaks: why governments should not rely on Corporate Service Providers

Issued by Transparency International Secretariat



New investigations based on leaked documents show the alleged role of a UK-based company formation agent in setting up and managing firms linked to fraud and criminal activity in multiple countries. The case is another example of the need for effective and implemented regulation of corporate service providers, Transparency International said. Countries that rely on such firms for identifying company owners and vetting their sources of funds are at greater risk of money laundering and corruption, the anti-corruption organisation added.  

Maira Martini, Research and Policy Expert at Transparency International, said: “Company formation agents have been at the heart of scandals like the Panama Papers and Paradise Papers. This investigation appears to give us another example of how some corporate service providers have allegedly facilitated money laundering and criminal activity. Formation agents need to face tough consequences when they fail to conduct proper due diligence on their clients.

Yet some countries have actually chosen to rely almost entirely on such agents to identify the real people behind companies and vet their funds. This is like the fox guarding the hen house. Far better would be public registers of company ownership, so that companies set up by dodgy firms can be identified and scrutinised by law enforcement, journalists and civil society.”


For any press enquiries please contact

Michael Hornsby
T: +49 30 34 38 20 666
E: .(JavaScript must be enabled to view this email address)

Latest

Support Transparency International

Support Us

مؤشر مدركات الفساد 2019

كشـف مؤشـر مـدركات الفسـاد للعـام ً 2019عـددا ً صادمـا مـن الـدول التـي تقـوم ً بقليـل مـن التحسـينات أو لا تقـوم أبـدا بأيـة تحسـينات فـي سـبيل معالجـة الفسـاد، ويقتـرح تحليلنـا بضـرورة تخفيـض مقـدار الأمـوال الطائلـة التـي يتـم انفاقهـا علـى السياسـة، وضـرورة تعزيـز عمليـات صنـع القـرار السياسـي كونهمـا ضروريـان للحـد مـن الفسـاد

IPC 2019: Analyse mondiale

L’Indice de Perception de la Corruption 2019 révèle qu’un nombre impressionnant de pays ne montrent que peu ou pas de signes d’amélioration dans la lutte contre la corruption. Notre analyse suggère également que la réduction de l’influence de l’argent en politique et la promotion de processus de prise de décision inclusifs sont essentielles pour lutter contre la corruption.

CPI 2019: Global Highlights

CPI 2019 reveals that a majority of countries are showing little to no improvement in tackling corruption. More than two-thirds of countries score below 50, with an average score of just 43.

Индекс восприятия коррупции 2019: Восточная Европа и Центральная Азия

Регион имеет сложности с ограниченным разделением властей, злоупотреблением государственными ресурсами в избирательных целях, непрозрачным финансированием политических партий и конфликтами интересов.

Corruption Perceptions Index 2019

The Corruption Perceptions Index ranks 180 countries and territories by their perceived levels of public sector corruption, according to experts and business people.

الشرق الأوسط وشمال إفريقيا

وبنفس معدل الدرجات البالغ ً 39خلال العام الماضي، كان هناك تقدما ً ضئيلا في تحسين السيطرة على الفساد في منطقة الشرق الأوسط وشمال إفريقيا

IPC 2019: Afrique Subsaharienne

Tandis que les Seychelles sont aux prises avec des affaires de blanchiment d’argent, dimension qui n’est pas pris en compte dans le calcul de l’IPC , plusieurs lois anti-corruption, notamment une loi récente sur l’accès à l’information et une commission anti-corruption créée il y a peu, ont contribué à renforcer le cadre de la lutte contre la corruption dans le pays.

Social Media

Follow us on Social Media