The new High Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI) has held a virtual consultation with UN member states.
The UN-established FACTI panel includes leading experts with a mandate to recommend institutional reforms that could help curb illicit financial flows (IFFs) and mobilise resources to achieve the UN’s ambitious development agenda.
Prior to the virtual consultation the FACTI secretariat commissioned expert consultants in the fields of financial accountability, transparency and integrity to develop background papers on specific topics of interest to the panel.
Topics of interest
Seven papers were published covering a range of topics, including the transparency of asset and beneficial ownership information, anti-corruption measures, foreign bribery investigations and prosecutions as well as accelerating the return of assets.
Other topics include tax information production, sharing, use and publication and the appropriateness of international tax norms to developing country contexts as well as a peer review of financial integrity matters.
Interim and final reports
The panel secretariat will work with the expert consultants to develop and publish short briefing notes based on these background papers.
The papers will be used as inputs for the panel’s interim and final reports.
The seven papers published ahead of the FACTI virtual consultation can be found here.
Categories: Trade Based Financial crimes News
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