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: Greenberg, T et al
Release date: January 2009

Stolen Asset Recovery: Politically Exposed Persons, A Policy Paper on Strengthening Preventive Measures

Funds stolen by corrupt politicians and stashed abroad with the help of the international banking systems are the main focus of this publication. The authors analyse the shortcomings in existing frameworks to curb such activity and identify a set of recommendations to make it more difficult to access the international financial industry to launder proceeds of corruption: enhanced due diligence to domestic and foreign politically exposed persons (PEPs), declaration of beneficial ownership, request of asset and income disclosure, periodic reviews of PEPs

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Author: Sharman, J C
Release date: September 2008

The Global Anti-Money Laundering Regime and Developing Countries: Damned if they Do, Damned if they Don

The author discusses the successful spread of anti-money laundering legislation, with particular regards to developing countries where the opportunity costs are higher. Sharman discusses two hypothesis for the successful spread of a legislation that no country had in place before 1975 and have had uncertain effects in hindering international financial crime: first, the power of international coercion through the blacklisting conducted by the Financial Action Task Force and secondly the influence of international organizations in ‘socializing’ policy models associated with modernity and progress.

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