LONDON: The UN Convention against Corruption is the world’s universal instrument for international cooperation in the fight against corruption. The UK affirms the importance of the role played by the Convention in providing these opportunities to take stock of current issues, share understanding, and build consensus around possible solutions.
As the Convention notes, corruption threatens the stability and security of societies.
It undermines the institutions and values of democracy and justice and jeopardizes sustainable development and the rule of law. These threats have been heightened by coronavirus (COVID-19). As the world continues to recover, it is essential that we strive collectively for innovative approaches to tackle corruption in all its forms, said Andrew Preston, UK’s Head of the Joint Anti-Corruption Unit on Friday.
The UK is working in close co-operation with other nations to address the effects of corruption.
This year under the UK’s presidency the G7 restated our collective commitment to tackling corruption.
We are honouring that commitment, including through follow up to last week’s US Summit for Democracy and through the Open government Partnership, whose 10-year Anniversary Summit is currently taking place in South Korea. Since the last Conference the UK has continued to take cutting-edge action.
“We have placed a high priority on the importance of media freedom and the critical role that investigative journalism plays in educating and alerting people to corruption as well as bringing to light issues which need addressing.
We believe it is only through listening to and working with the media and civil society that we can take positive steps to tackle corruption and to drive further reform.
The UK is pleased, therefore, to include a civil society representative in our delegation to the Conference. We also welcome the opportunity that the Convention affords to develop the dialogue about corruption with partners outside government, and would encourage fellow delegations to be as open as possible about their work with the Convention and particularly the Implementation Review process.”
“We are prioritising measures to prevent corruption and other forms of illicit finance. Transparency underpins this. The UK is campaigning to make company beneficial ownership transparency the global norm by 2023. We have reaffirmed our commitment to establishing measures that promote transparency in the beneficial ownership of legal entities. And we have further committed to promote the effective implementation of the Financial Action Task Force Standards, the global standard setter for combatting money laundering, terrorist financing and proliferation finance.”
On the same theme, the Convention provides a strong framework for the transparent return of assets to the ultimate benefit of those harmed by corruption.
This year, in addition to championing strengthened international action on asset recovery through the G7 and at side events taking place this week, the UK has also taken action at home. We have, for example, returned assets to Nigeria and Moldova of over £4.5 million, and for the first time have published annual international asset return statistics.
He said, there is more that we can do collectively to meet the threat of corruption. Innovative powers, sanctions, prosecutions and other legislative weaponry offer little if we do not have the courage to wield them.
The value of our efforts will depend entirely on States Parties being committed to promoting integrity and anti-corruption as the norm, not the exception. Our collective prosperity, for current and future generations, depends on this.
The post UK reaffirms commitment to promote transparency in beneficial ownership of legal entities appeared first on The Frontier Post.