Jump to navigation Jump to search
Political corruption is the use of powers by government officials for illegitimate private gain.
State capture is a type of systemic political corruption in which private interests significantly influence a state's decision-making processes to their own advantage.
- Aug.26.2020: Audit firm EY — Incompetent, Negligent or Criminal? The ‘Big Four’ audit firms – Deloitte, EY, KPMG and PwC – all play a systemic role in economic crimes and State Capture. The evidence suggests that these firms have prioritised profit over professional duties and the law. Accountability and reform of the industry are thus essential. Open Secrets (@OpenSecretsZA), Daily Maverick.
- Jan.18.2018: UK Govt Blocks and Delays Vital Anti-Corruption Reforms. One amendment, tabled by Lords from all the major political parties, would have required the govt to reveal the true owners of UK properties owned by foreign companies. This transparency would be a vital step in stopping UK property being used as a safe haven for dirty and corrupt cash. In order to head off a cross-party rebellion, the govt finally published a timetable for when this register would be introduced. Despite these proposals having already been consulted on twice, the govt’s timetable will not see the legislation passed until Summer 2019, and the Register will only come into effect in 2021. Another amendment, also backed by Lords from all the major parties, would require the Overseas Territories – which include some of the most notorious UK's tax havens – to publicly reveal the true owners of the companies registered there. Revealing these true, beneficial owners, would tackle the secrecy that act as getaway cars for the criminal and corrupt. The govt again sought to block proposals to combat the UK tax haven's central role in global corruption and money laundering. At the vote, the amendment was narrowly defeated by just 10 votes – but the fight is not over. Next month the Bill will go to the House of Commons, where MPs will have the chance to vote on these essential reforms. (Linkback to Conservative Party, Transparency. Sanctions and Anti-Money Laundering Act 2018) Global Witness.
- Jan.17.2018: Hugely important for this register to be introduced as soon as possible. @FrankFieldMP, Twitter.
- Jan.17.2018: May to set timetable to reveal foreign owners of UK property. Pressure from Tory peers leads PM to promise draft legislation on register of beneficial owners by summer. Lord Faulks, a former Tory justice minister, and Lord Hodgson have called on the govt to establish a register. Anushka Asthana, The Guardian.