THE WEEK IN CORRUPTION, 31 MAY 2019- FROM TRANSPARENCY INTERNATIONAL

Hi,
Think of any major cross-border corruption scandal from recent years. A close look will reveal the critical role of anonymous shell companies. They help the corrupt to launder large amounts of money attained from corruption, tax avoidance and other financial crimes.
Unveiling the identity of the people hiding behind these companies can make a real difference, as we recently saw in Czechia and Slovakia.
That’s why we've been campaigning for mandatory disclosure of beneficial ownership – the principle that anonymous individuals behind companies should be identifiable. This cause has been gaining ground, but most governments still need to establish open registers and improve verification of ownership data they collect.
What is more, when beneficial ownership information is publicly accessible, citizens can take part in anti-corruption efforts.
We brought these messages to the 6th Global Summit of the Open Government Partnership (OGP) taking place in Ottawa, Canada this week. The OGP is a key platform for making governments more transparent, inclusive and responsive.
The encouraging news is that at this year’s Summit, the UK government launched a new coalition to advance beneficial ownership transparency and several governments have already expressed enthusiasm. We are fully behind this initiative and will be asking all participating governments to sign on and really follow through.
The time is now for OGP countries to shine a light on beneficial ownership and take a stand against cross-border corruption.
What do you think? Let us know @anticorruption!

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