South Korea - China - U.S.

What a new president's election means for South Korean democracy. "Yoon has two important tasks in front of him: mending emergent social divisions and making institutional changes to prevent – not just punish – corruption." 

The Diplomat: https://thediplomat.com/2022/03/what-president-yoon-suk-yeols-election-means-for-south-korean-democracy/ 

 

China debt: anti-corruption watchdog vows clamp down on the 'money bags' of local governments. "The Jiangsu branch of China's anti-graft watchdog has said it will target corruption and disorder surrounding local government financing vehicles (LGFVs) – known as the "money bags" of regional authorities – once again highlighting poor transparency around the platforms amid mounting debt pressure." 

South China Morning Post: https://www.scmp.com/economy/china-economy/article/3171263/china-debt-anti-corruption-watchdog-vows-clamp-down-money  

 

FACT Submits Comment to the SEC to Amend Form PF and Secure the U.S. Financial System. "The SEC should show leadership now in addressing illicit finance risks threatening the U.S. private investment industry by revising Form PF to provide greater transparency." 

Financial Accountability & Corporate Transparency (FACT) Coalition: https://thefactcoalition.org/fact-submits-comment-to-the-sec-to-amend-form-pf-and-secure-the-u-s-financial-system/ 

Climate crisis - Guatemala – Russia

The hidden threat of climate fraud: How the spectre of corruption haunts the climate crisis. "Although financial losses from corruption are notoriously difficult to determine, some estimates show that in the water sector alone, it may be that as much as 15 per cent of climate funds are lost to corruption." 

New Statesman: https://www.newstatesman.com/spotlight/2022/03/the-hidden-threat-of-climate-fraud 

 

A top Guatemalan judge resigns in blow to anti-corruption movement. "One of Guatemala's top judges, a key figure in the fight against corruption, said on Monday that she had resigned amid threats and pressure related to her work, in a blow to the stuttering fight against impunity in the Central American country." 

Reuters: https://www.reuters.com/world/americas/top-guatemalan-judge-resigns-blow-anti-corruption-movement-2022-03-21/ 

 

Mystery Mansions Revealed: The Secret Assets of Putin's Oligarchs. "A luxurious estate on the French Riviera, Sardinian villas, mansions in London and Paris, and a billion-dollar offshore trust –– these are some of the more than two dozen assets that Russian oligarchs have managed to keep secret until now." 

Organized crime and corruption reporting project: https://www.occrp.org/en/daily/16098-mystery-mansions-revealed-the-secret-assets-of-putin-s-oligarchs 

Russia - South East Asia - China

Transparency International – Countering Russia's Kleptocrats "For more than two decades, corrupt officials and politically connected people in Russia have laundered vast amounts of money and parked their illicit gains abroad. In the wake of Russia's invasion of Ukraine, we are campaigning to hold them and their accomplices to account, while demanding the fast-tracking of key anti-corruption reforms." 

Transparency International: https://www.transparency.org/en/campaigns/countering-russia-kleptocrats-after-ukraine 

 

A qualitative survey of public sector pharmaceutical committee conflict of interest policies in the WHO South-East Asia Region. "Processes for preventing or managing conflicts of interest were less well developed than those for disclosure except for a few key procurement processes." 

Bio Med Central: https://globalizationandhealth.biomedcentral.com/articles/10.1186/s12992-022-00822-8 

 

China to increase scrutiny of statistical data to curb fraud. "China will step up scrutiny of the country's statistics agency and tackle the "outstanding problems" of data fraud and falsification, the Communist Party's anti-corruption inspection unit said on Friday." 

Reuters: https://www.reuters.com/world/china/china-increase-scrutiny-statistical-data-curb-fraud-2022-03-18/ 

Golden visas/ACA/AML

Curbing corrupt abuse of EU golden passport and visas. "The EU should ban the sale of golden passports once and for all. Member states should ensure that citizenship or residency rights awarded to sanctioned individuals are immediately revoked. This would signal that the EU no longer offers a safe haven to kleptocrats." 

Transparency International: https://www.transparency.org/en/press/eu-golden-passports-visas-corruption-european-commission-must-heed-parliament-proposals 

We need strong anti-corruption bodies: NSW treasurer Matt Kean calls for federal watchdog. "The New South Wales treasurer, Matt Kean, believes the creation of a federal anti-corruption body is vital to safeguard Australia's economic prosperity and rule of law. Just months out from the federal election, Kean used a speech to highlight the importance of "strong anti-corruption bodies" to hold every level of government accountable." 

The Guardian: https://www.theguardian.com/australia-news/2022/mar/16/we-need-strong-anti-corruption-bodies-nsw-treasurer-matt-kean-calls-for-federal-watchdog 

 

The search for oligarchs' wealth in U.S. hindered by investment loopholes. "Under current law, private equity firms and hedge firms do not need to verify their investors' identities or how they made their money — requirements that U.S. banks have followed under the anti-money laundering Bank Secrecy Act, passed in 1970, and other anti-corruption laws."  

The Washington Post: https://www.washingtonpost.com/business/2022/03/16/private-equity-regulation-gap/ 

Latin America – EITI - India

Report: Weak Institutions Hamper Corruption Fight in Latin America. "Efforts to combat corruption in the region are insufficient, particularly because authorities are not independent and do not have the capacity to implement existing legislation." 

Law.com International: https://www.law.com/international-edition/2022/03/17/report-weak-institutions-hamper-corruption-fight-in-latam/?slreturn=20220218014245 

 

EITI makes progress on holding companies accountable, but will it work? "For over a year, EITI has struggled to hold its supporting companies responsible for their actions. Last month, it made considerable progress, but the EITI will need to follow through on ensuring its new commitments to accountability are enforced in a meaningful way." 

OXFAM: https://politicsofpoverty.oxfamamerica.org/eiti-makes-progress-on-holding-companies-accountable/ 

 

Corruption affects happiness of 43.2 per cent Indians. "The study showed that around 43.2 per cent Indians believe corruption is rampant in government and businesses and it depresses people and this affects the evaluations used to measure happiness. The study had a sample size of 20,073 interviewees across 28 states and eight Union Territories in India." 

Tribune India: https://www.tribuneindia.com/news/nation/corruption-affects-happiness-of-43-2-per-cent-indians-study-378634 

Interpol - Russia - EU

Global fight against financial crime intensifies as gangs switch to cryptocurrencies. "Governments, police, banks and companies must team up to tackle the scourge of financial crime, an Interpol official has said. Rory Corcoran, a director at the global police organisation, said financial crime and corruption are among the top threats faced by the agency's 195 member countries" 

The National News: https://www.thenationalnews.com/uae/government/2022/03/15/global-fight-against-financial-crime-intensifies-as-gangs-switch-to-cryptocurrencies/ 

 

Russian Oligarchs Hide Money in Plain Sight in Luxury New York City Condos. "Throughout the late 2000s and early 2010s, the growing presence of fabulously wealthy Russian oligarchs in high-end housing markets such as Manhattan, Miami and Los Angeles was the real estate industry's worst kept secret. Although many eschewed publicity, they weren't hard to spot." 

Newsweek: https://www.newsweek.com/russian-oligarchs-hide-money-plain-sight-luxury-new-york-city-condos-1687503 

 

Companies to be more accountable for their social and environmental impact. "If agreed with EU governments, the bill will make businesses more accountable for their impact on people and the planet, while giving investors and the public access to comparable, reliable and easily accessible information on sustainability." 

European Parliament: https://www.europarl.europa.eu/news/en/press-room/20220314IPR25409/companies-to-be-more-accountable-for-their-social-and-environmental-impact 

FATF - China - Vietnam

The Global Task Force That's Going After Dirty Money. "Though the body is sometimes criticized for focusing too much on formal regulation, the mere risk of ending up on the FATF's watchlist has been enough to spur some governments into action." 

The Washington Post: https://www.washingtonpost.com/business/the-global-task-force-thats-going-after-dirty-money/2022/03/10/324a2aa4-a099-11ec-9438-255709b6cddc_story.html 

Former Chinese cadre cleared of wrongdoing after taking up executive job at vaccine maker. "Yunnan's anti-corruption watchdog said Jiang Runsheng had not violated the employment rules after he left medical university and government position. Observer says decision suggests there may be some leeway to retain senior talent amid a crackdown on 'revolving door' between the public and private sector." 

South China Morning Post: https://www.scmp.com/news/china/politics/article/3169979/former-chinese-cadre-cleared-wrongdoing-after-taking-executive?module=live&pgtype=homepage 

Ho Chi Minh City (HCMC) disbursement of Covid relief packages investigated. "The Public Security Ministry has asked HCMC to provide documents related to the disbursement of Covid-19 relief packages to facilitate an anti-corruption probe. The documents have to be submitted to the Central Steering Committee for Anti-Corruption, the ministry's Police Department for Corruption, Smuggling and Economic Crimes said Wednesday." 

VN Express: https://e.vnexpress.net/news/news/hcmc-disbursement-of-covid-relief-packages-investigated-4436740.html