01/11/21

GLOBAL REGULATION: G20 leaders agree to improve financial transparency to combat corruption.

As published on tass.com, Sunday 31 October, 2021.

ROME, October 31. /TASS/. The Group pf Twenty leaders have agreed to take measures to improve financial transparency in order to combat corruption and safe havens to corruption offenders and their assets, according to the declaration passed by the G20 leaders after their summit in Rome.

"We are committed to fight any new and sophisticated forms of corruption," the document says. "We reaffirm our commitment to deny safe haven to corruption offenders and their assets, in accordance to domestic laws and to combat transnational corruption. We will also provide competent authorities with adequate, accurate and up-to-date information by adopting legally appropriate measures to improve international and domestic beneficial ownership transparency of legal persons and arrangements and real estate, especially trans-national flows."

The leaders agreed to more actively engage the expert and academic community, civil society, the mass media and private businesses to anti-corruption efforts. The G20 leaders also adopted a 2022-2024 Anti-Corruption Action Plan.