Prime Minister David Cameron hosted an international anti-corruption summit in London Thursday and used the event to announce steps to end the secret ownership of property in the UK by foreigners.
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In the wake of the Panama Papers revelations, the U.S. has (belatedly) announced that it will . The rules, which include requiring financial institutions to find out and keep records on the real owners behind the companies that use their services, aim to help U.S. law enforcement pierce the layers of anonymous shell companies that people can use to disguise their financial dealings around the world.
The Obama Administration Thursday announced a series of actions to end the use of anonymous corporations in the United States and require disclosure of beneficial owners when foreigners deposit money or buy assets in this country.
UK Prime Minister David Cameron has said corruption adds 10 percent to business costs globally.
A good friend of mine who ended his career as a very senior police officer once gave me an excellent piece of advice. He told me that anyone can manage an organization when things are going well -- it is when things become difficult that true leaders emerge.
An increased urgency is growing around the world regarding the need to confront the deep-rooted problem of corruption.
The United States and United Kingdom recently published comprehensive money laundering risk assessments through the UK’s National Risk Assessment and the U.S.’s National Money Laundering Risk Assessment.
The FIFA scandal reminds us that corruption remains embedded right at the top of some of the world’s institutions. And it’s not only FIFA: the almost daily reports of fines for the major Western banks for failing to prevent money laundering, or for foreign exchange and interest rates manipulation -- crimes dating back to the financial crisis -- show the extent to which corruption is part of the normal operating mode of transnational institutions, whether public or private.
China’s State Council has released a plan to increase salaries of civil servants amid public expectations that it will help curb corruption.
Rebekah Brooks, the former head of Rupert Mudoch's News Corp. in Britain, was acquitted Tuesday of phone hacking, bribery, and other charges by a London jury after a seven-month trial.