Addressing illicit financial flows (IFFs), revenue mismanagement and corruption is one of four imperatives highlighted by UN secretary-general António Guterres that must be enacted to ensure that the benefits of mineral resources reach all people in society, not just elites,… Read More ›
The European Banking Authority (EBA) has released updated guidelines on customer due diligence and the factors credit and financial institutions should consider when assessing money laundering and terrorist financing (ML/TF) risks associated with individual business relationships and occasional transactions. The… Read More ›
Illicit trade in natural resources – including protected flora and fauna as well as illegally harvested and mined commodities such as timber, metals and stones – is likely to come into sharper focus after the UN’s adoption of the Kyoto… Read More ›
Stronger laws and institutions are needed to prevent corruption and money laundering while bankers, lawyers and accountants who enable financial crime must face punitive sanctions says a UN panel. The High-Level Panel on International Financial Accountability, Transparency and Integrity for… Read More ›
The United Nations Conference on Trade and Development (UNCTAD) and the United Nations Office on Drugs and Crime (UNODC) have finalised a conceptual framework for the statistical measurement of illicit financial flows (IFFs). Pilot projects are either underway or due to commence… Read More ›
Transparency International (TI) says it believes that the High Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI) would do well by prioritising three key reforms to address what it describes as the pernicious… Read More ›
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… Read More ›
Addressing illicit financial flows (IFFs) was one of six major financing challenges focused on at a virtual high-level event –Financing for Development in the Era of Covid-19 and Beyond – convened by the UN Secretary-General and the leaders of Canada… Read More ›