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anti-corruption

Liberia: New laws, new challenges


Liberia's new AML/CFT law is a step towards good governance in a country looking to the future (Credit: Kenneth Harper, Flickr Creative Commons)
On May 2nd, the President of Liberia signed into law a long anticipated bill to counter money laundering and terrorism financing (AML/CFT).  The new Act, which included amendments to various other laws, will provide more effective legislative tools with which to fight corruption, money laundering and other financial crimes.  The new Act will provide the legal basis to establish a Financial Intelligence Unit as the central coordinating agency in these efforts, provide better tools for authorities to seize and freeze the proceeds of crime, and improve cooperation in information- sharing and investigations. It will also require financial institutions and other entities often used to launder proceeds of crime, to identify and report suspicious transactions to authorities.   

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

BET
Like Water for Internet: Ory Okolloh Talks Tech in Africa

“Last week, ahead of her trip to Washington, D.C., to speak to the World Bank about Africa’s private sector, the 35-year-old Policy Manager for Google Africa took to her Twitter account and asked her followers, “What should I tell them?”

The responses came in fast and varied from rants about corruption in multinational corporations to comments about infrastructure and energy. For the most part, Okolloh didn’t engage the responses, but she did re-tweet them for all to read and she made sure to add the World Bank’s twitter account to the dispatches so that the behemoth institution could also see what Africa’s tweeting populace had to say.”  READ MORE

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

Linda Raftree
Mobile technology and workforce development programs with girls and young women

“The March NYC Technology Salon offered an opportunity to discuss how mobile technology can transform workforce development and to hear how mobile is improving the reach and impact of existing initiatives working with girls and young women. Attendees also raised some of the acute, practical challenges and the deeper underlying issues that need to be overcome in order for girls and women to access and use mobile devices and to participate in workforce development programs and the labor market.”  READ MORE

Bringing the banks to account

It began as a trickle but has turned into a flood. HSBC, Barclays, Wachovia, JP Morgan, and UBS have all been engulfed by waves of scandal involving, money laundering, fixing interest rates, risky trades, and rigging the money markets. The question now is – have the banks gone bad? The claim by senior bank executives they ‘we did not know’ rings hollow, and must not be allowed to stand if they are to regain their integrity. 

The banks have long resisted greater hands-on supervision of their activities, but the recent rash of publicity surrounding their bad conduct proves that left to their own devices market discipline is not enough. Their involvement in dubious transactions, including in greasing the wheels of corruption through money laundering requires the full implementation of existing rules and regulation, and empowered supervision. The World Bank’s Stolen Asset Recovery Initiative (StAR) along with Financial Market Integrity (FMI) have long pressed for the banks to do more to prevent money laundering and to fight corruption.  As a rough estimate, it is believed that $20 – $40 billion is stolen from the coffers of developing countries every year. Much of it ends up being laundered through the banks, passing through financial capitals around the world en route to the beneficiaries. Mechanisms to detect illicit cash flows have long been in place, but the existing system is not working, and corruption is eating away at the foundations of the banking system.

Avoiding political potholes on the road to development

Joe Wales's picture

A while back I was working for a small education foundation in Bangalore. Every day I took the bus to the office along a road that had so many pot holes it felt like the driver had decided to take a short cut across the surface of the moon. About a month before I left the whole stretch was covered by a smooth layer of gleaming tarmac and a series of huge posters appeared – announcing the hard work and successful lobbying conducted by our local city councillor.

Youth at the Forefront of Anti-Corruption Movement

Joseph Mansilla's picture

Jiwo Damar Anarkie from Indonesia is a young co-founder of the Future Leaders for Anti-Corruption (FLAC) a local NGO, and he uses storytelling and hand puppets to teach integrity to elementary school students.
 
"They're very young, at the stage where character building is still possible. Storytelling is one of the most effective ways to do so," said Anarkie.
 
The organization did an initial road show in four schools in Jakarta, and later built partnerships with Komisi Pemberantasan Korupsi (KPK, Corruption Eradication Commission), allowing the team to reach more schools in more cities as well as to train more storytellers and purchase more hand puppets.

Illicit Enrichment uncovered – and discovering the best ways to fight it

When a modestly paid public official is suddenly able to take lavish holidays, buy a new sports car, or purchase expensive jewelry it raises eyebrows - and suspicion. Corruption may be suspected but it is often frustratingly difficult to prove – so what is the best way to deal with the sources of unknown wealth?

‘Illicit enrichment’ poses a legal and practical challenge for authorities around the world. One option is to criminalize the offence, meaning in practice that the prosecution does not have to prove that the assets come from corrupt behavior, but simply cannot be justified from legitimate sources of income.  The public official then has to provide evidence of the legitimate source of the mysterious new found wealth, and if it cannot be adequately explained then suffer the legal consequences.

Fighting corruption in Vietnam: the question is how, not why

Ngan Hong Nguyen's picture

It’s difficult to do a background check of a company based in a foreign country with operations overseas.

It’s difficult to check to see whether a document is falsified or not.

It’s difficult to …

I heard a lot of that from the audience of the workshop on World Bank’s Anti-Corruption Framework & Common Integrity Risks in World Bank-Funded Projects in Hanoi recently. Majority of the participants were project managers and procurement staff from Project Management Units managing World Bank-funded projects.

Presentations from the Bank’s Integrity Unit show that corruption increases costs, reduces quality, delays impacts on poverty, creates public disgrace and even generates social instability.  For a person who often has to look at results of development projects like me, corruption eats into the meager meal of the ethnic minority people in the northern mountainous areas of Vietnam, takes education away from girls in learning age, and lower the quality of hospitals for old people in Mekong river delta.

Weekly Wire: the Global Forum

Kalliope Kokolis's picture

These are some of the views and reports relevant to our readers that caught our attention this week.

UN
Over two billion people now connected to Internet but digital divide remains wide

“While citing the rapid development and growth of the Internet, a top United Nations official today urged greater efforts to bridge the ongoing digital divide and ensure that everyone around the world can harness its benefits.

There were 2.3 billion Internet users worldwide at the end of 2011, the UN Under-Secretary-General for Economic and Social Affairs, Wu Hongbo, said in his address to the Internet Governance Forum (IGF), which opened in Baku, Azerbaijan. In addition, mobile broadband reached more than 1 billion subscriptions, while the use of fixed broadband was estimated at 590 million subscriptions.

“While this progress is surely significant, we have a long way to go in our collective efforts to bridge the digital divide,” he told participants, noting that only a quarter of inhabitants in the developing world were online by the end of 2011.”  READ MORE


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