Anti-corruption Summit: London 2016

On 12 May 2016, Prime Minister David Cameron hosted a landmark international anti-corruption summit in London

The Anti-Corruption Summit, which took place in London last May 12th, tackled some of the world biggest corruption issues, such as secrecy in the movement of corrupt money around the financial system, public contracting, health and sport.

More than 40 countries participated in the Summit, which was the first to gather all leaders to discuss the theme of corruption in a transparent and participated way. Business and civil society representatives, including Transparency International, were invited to attend.

Forty countries shared some general principles and signed a global declaration, and some of them made specific country commitments. Special focus was put on cooperation and sharing information on company ownership and control, reporting of multinational profits and illicit financial flows.

According to Transparency International, several key initiatives were proposed during the summit. Australia, Canada, Germany, New Zealand, the UK, the US, Singapore and Switzerland will found an International Anti-Corruption Coordination Centre to support efforts to prosecute the corrupt and seize stolen assets. The UK will introduce specific laws to punish the facilitators of corruption who fail to do due diligence on their clients. Furthermore, given the high number of international sports scandals, fighting corruption on sport was also on the summit agenda: as a result, 19 countries will work with international sports bodies to promote better governance. 



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