U4 Issue | Illicit financial flows

Income and assets declarations: Issues to consider in developing a disclosure regime

By Richard Messick
Bergen: Chr. Michelsen Institute (U4 Issue 2009:6) 17 p.

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This publication is from 2009. Some of the content may be outdated. Search related topics to find more recent resources.

The United Nations Convention against Corruption (UNCAC) requires state parties to consider establishing policies requiring officials to reveal “to appropriate authorities … their outside activities, employment, investments, assets and substantial gifts or benefits” (Article 8, UNCAC). The World Bank has advised a number of countries on whether an income and asset disclosure programme is an appropriate response to the corruption issues they face, and if so, what type of programme they should establish. Assistance has ranged from advice on drafting legislation to furnishing model disclosure forms to providing financial and technical support to an agency created to administer the programme. Drawing on this experience and studies underway by several Bank units, this U4 Issue paper describes the issues policymakers should weigh in deciding whether to adopt a financial disclosure law, and if so, what provisions it should contain.

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