To counter crime and corruption, law enforcement authorities around the world need to be able to swiftly uncover the identities of the real owners of companies.
The Australian Government needs to address, without delay, the weaknesses in our laws and efforts to ensure Australia joins countries like the United Kingdom, United States and Canada as leaders in combatting bribery; and fully implement its commitments under the OECD Convention, including full implementation of all OECD Working Group recommendations.
Transparency International’s 2018 Exporting Corruption report found that out of 44 parties to the OECD Anti-Bribery Convention only seven countries are in the top active enforcement category and four are in the next moderate enforcement category.
Australia is a major destination of the world’s dirty money. Much of this money is flowing out of poorer countries, and into the coffers of wealthy G20 States.
Who benefits from the company behind the company? The public has a right to know.
This factsheet provides clear recommendations for businesses to mitigate the risks of corruption when securing exploration and mining rights and approvals. It outlines why having effective systems in place to detect, prevent and manage corruption risks is a business imperative.
This factsheet outlines why corruption risks significantly increase when the identity of those who own, control or benefit from companies holding rights to a country’s valuable resource wealth is hidden from the public.
The Supreme Court of Victoria has fined Securency and Note Printing Australia, who pleaded guilty, for their role in foreign bribery. However, no directors will be held to account for these shocking events because the case was bungled by law enforcement agencies.
This Index assesses businesses on how transparent they are in their political engagement – including donations to political parties, lobbying of those in power, the revolving door, public commitment to ethical behaviour and the overall transparency of this information. While focused on the UK, it provides useful guidance on principles for responsible political engagement.
a Deferred Prosecution Agreement (DPA) scheme in Australia, will only be an effective tool in combating bribery and corruption if it is part of a package of reform measures, and not viewed as a ’get- out-of-jail free’ card by offending corporates.