February 2013 (#163)

In this update:

  • Money Laundering in Australia?
  • Transparency International turns 20
  • Coming Event


Money Laundering in Australia?

Because of PNG officials’ alleged property investment in Cairns, an Economist article (16 February 2013) pointedly includes Australia as a haven within the scope of new G20 scrutiny as part of an important campaign against tax avoidance and money laundering

The Economist article states, ‘The chairman of Papua New Guinea’s anti-corruption watchdog, raised eyebrows at a meeting of financial crime-fighters in Sydney last October when he described how officials from his country were systematically “using Australia as a Cayman Islands” by laundering a significant portion of corruptly obtained funds through Australian banks and property deals.’


Transparency International turns 20

Transparency International is celebrating its 20th anniversary in 2013. Twenty years ago foreign bribes were a legal tax write-off for multinational corporations in too many countries, there was no way to measure corruption on a global scale and few leaders of countries lost their jobs for being corrupt. Fast forward to 2013 and corruption has gone from being a taboo topic to the most-talked about social challenge in the world.


Coming Event

Building Business Integrity, Preventing Corruption – 27 February 2013 – Melbourne: a panel of prominent expert speakers, including Michael Ahrens (Exec. Director of TIA), will focus on current issues in the corruption risk arena at an afternoon event facilitated by Rosemary Sainty and held in partnership with ANZ.