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: OECD
Release date: June 2012

International co-operation against tax crimes and other financial crimes

International co-operation is essential in the fight against financial crimes, from money laundering involving corruption to corporate tax evasion. This OECD report aims at improving the understanding and use of international co-operation mechanisms. After describing the different agencies involved in the fight against financial crimes, the report provides an overview of the international instruments available and summarises current initiatives to improve inter-agency co-operation. The core of the report is a catalogue describing the basic features of the main instruments for international co-operation in combating financial crimes.

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Author: Financial Action Task Force
Release date: February 2012

The FATF Recommendations

The Financial Action Task Force (FATF) is an intergovernmental body responsible for setting standards on anti-money laundering. Although not legally binding, FATF 40+9 recommendations are the de facto AML policy around 180 countries in the world. A 2-year process of revision of recommendations has resulted in a new set, published in February 2012. For those working with illicit financial flows out of developing countries, it is important to know FATF's recommendations to understand how rich governments dealing with abuse of their financial systems for the purpose of laundering corruption money, tax evasion and proceeds of other crimes.

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