Financial Transparency Coalition

The UK Government has announced that transparency and anti-corruption will be key elements at the G8 summit this year. Much needed action on money laundering provides an opportunity to live up to that promise. Corrupt money flows through the UK – in particular through our financial services industry. Nobody knows how much, but it is almost certainly many billions of pounds each year.

Transparency International signed a letter with prominent prosecutors and corruption hunters addressing G8 leaders on the urgency to curb money laundering.

BERLIN - Transparency International, the anti-corruption organisation, welcomes the proposal to make transparent and accountable governance a cornerstone in the drive to end world poverty and reduce inequality, as outlined in the report published today by the High Level Panel convened by the United Nations.

Last week the massive “Offshore Leaks” investigation by the International Consortium of Investigative Journalists reported the uncovering of the beneficial owners of thousands of offshore companies. Among the owners of offshore shell companies disclosed so far are several senior politicians and their close families in various countries.