Financial Transparency Coalition

On Monday, October 10, a variety of prominent Indian business leaders under the larger title of India Inc released their second open letter to the Indian government. This letter argues for the need to make striking changes to India’s legislation regarding bribery and corruption. It was written with an eye toward a newly proposed law called the Lokpal Bill which has been discussed extensively over the past year and is expected to be formally presented before India’s parliament in the near future. This bill intends to fight corruption by creating an ombudsman-style body with the power...

As Libya prepares for the future, what are financial centres doing to stop the flow of stolen assets from dictators? The following is adapted from a speechmade by Transparency International’s vice-chair, Akere Muna, at the UN public service forum in Dar es Salaam, United Republic of Tanzania. If corruption, especially money laundering and bribery are to be tackled, we need to see action not only from developing countries, but also countries that are home to major financial centres. Here in Africa there is wide recognition that poor governance is one of the biggest barriers to sustainable development, what is missing is recognition...

WASHINGTON, DC – After nearly a year of delays, the UK Bribery Act went into effect on July 1st. The act mandates stiff penalties, including up to 10 years in jail, for bribes paid by any business with a UK presence. In an ironic twist, while the UK Act is being touted as an extension to its cross-Atlantic counterpart, the U.S. Foreign Corrupt Practices Act (FCPA), anti-bribery proponents charge that the FCPA is under attack.

LONDON – Global Witness welcomes today’s implementation of the UK Bribery Act which, if enforced correctly, will help curb corruption and end poverty around the world. But the group warns that the government will need to provide the necessary resources to effectively enforce the act if its anti-corruption credentials are to be taken seriously.