International Drivers of Corruption

Some global mechanisms allow corruption to be a profitable crime. Find out how to deal with the negative impact this brings to developing countries.

Globalisation has been beneficial in many ways. However, the structures that facilitate legitimate businesses and international financial transactions are also used for illicit purposes: laundering proceeds of corruption, generating illicit flows out of development countries, paying bribes or evading taxes. These mechanisms create incentives for corrupt behavior in developing and developed countries and need solutions at local and international levels.

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Illicit financial flows and their impacts on development

Lecture by Raymond Baker from Global Financial Integrity (1 Oct 2010)
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Author: J.C. Sharman
Release date: November 2010

Shopping for anonymous shell companies: An audit study of anonymity and crime in the international financial system

Anonymity of bank account, shell companies and trusts are products usually associated with the island tax havens. However, as this study shows, many of the providers of such services are still located in OECD countries. Out of 54 attempts to establish a shell company and an anonymous account conducted by the author in 22 countryes, 17 offered to deliver on such services -- and 13 out of this pool were companies set up in rich economies.

Author: Nuhu Ribadu
Release date: October 2010

Show me the money: Leveraging Anti-Money Laundering Tools to Fight Corruption in Nigeria

In 2001, Nigeria was blacklisted as a non-cooperative country by the Financial Action Task Force. That pushed Nigeria to fix the country’s anti-money laundering regime. Years later, Nuhu Ribadu, former chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC), used these anti-money laundering tools to battle graft and achieved some unprecedented victories. This book provides an account of the EFCC’s experience in the period Ribadu led its efforts to investigate corrupt leaders.


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