Corporate Secrecy must be addressed at G20?

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The G20 Leaders’ Summit in Brisbane, Australia have been asked to confront the corporate secrecy problem by Transparency International and a host of prominent individuals and partners including John Githongo, Desmond Tutu, and Richard Goldstone.

 

Cloudy corporate structures, the shifting of money and profits, and low levels of law enforcement have led to at least one trillion dollars siphoned from developing countries each year. The victims of these illicit financial flows are the world’s poorest people. In an open letter, Transparency International and their partners are asking the G20 leaders to “address the flaws that still allow the corrupt to operate with impunity and siphon off tainted monies. In your drive to achieve a target of 2% collective growth in GDP above trend, you must remember that growth must be inclusive and sustainable and not leave anyone behind. At the Brisbane Summit you must put people at the centre of your decision-making.”

 

Read the full story here.

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