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Shruti Shah on the Panama Papers: A year of gains for transparency, but gaps remain (FCPA Blog)

Posted on by Jane Hagan

The Panama Papers leak exposed the harm caused by anonymous companies and spurred global reform efforts. But reform shouldn’t be driven by scandals and leaks. The lesson from the Panama Papers is that the gaps and loopholes that allow anonymous actors to abuse the system need to be closed. Read more

The cellphones were infected with porn. Then the Panama Papers exposed a bribery scheme, this company says (Miami Herald)

Posted on by Shruti Shah

“The Panama Papers highlight how easy it is for criminals and fraudsters to manipulate the global financial system and use the secrecy afforded by these anonymous companies to benefit from their ill-gotten gains,” Shah said. “The whole concept behind a shell company is you cannot figure out who ultimately controls the company or who is deriving economic benefits from it.” Read more

 

 

 

One of the US’s greatest gifts to the global economy is under threat from Trump (Quartz)

Posted on by Jane Hagan

The role of the SEC is to instill internal controls on corruption within companies and ensure their accounting isn’t hiding bribery. It can also force them to turn over any profits made from corruption, sometimes worth hundreds of millions of dollars. If and when Clayton is confirmed, Shruti Shah, vice president at Transparency International USA, says she worries he could start putting resources and personnel into different departments. “That would send all the wrong signals” to companies, she said. Read more

Jan 31, 2017- Letter to Cardin-Lugar on 1504 Anti-Corruption Provision

Posted on by Marion Williams

Several civil society organizations sent a letter to Speaker Ryan, Minority Leader Pelosi, Chairman Hensarling and Ranking Member Waters urging them to support the Cardin-Lugar Anti-Corruption rule and vote no on H.J. Resolution 41. Read more

Jan 31, 2017 – Letter on Cardin-Lugar 1504 Anti-Corruption Provision

Posted on by Marion Williams

TI-USA joined several other civil society organizations in sending a letter to Speaker Ryan, Minority Leader Pelosi, Chairman Hensarling and Ranking Member Waters urging them to support the Cardin-Lugar Anti-Corruption rule and vote no on H.J. Resolution 41. Read more

January 23, 2017 TI-USA Statement on Affiliation with Transparency International.

Posted on by Marion Williams

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No, The System’s Not Totally Rigged. But That Idea Sure Helped Donald Trump (Huffington Post)

Posted on by Jane Hagan

Transparency International, a group that tracks corruption worldwide, ranks the United States 16th among 168 nations ― on par with other Western, industrialized nations and considerably better than China (83rd), Mexico (95th) and Russia (119th), countries mentioned favorably by Trump during the campaign. “The U.S. doesn’t really do terribly,” said Shruti Shah. Read more

Shah and Heywood: FATF report finds U.S. weak on transparency of beneficial ownership (FCPA Blog)

Posted on by Jane Hagan

The new report on the United States by the global anti-money laundering body known as the Financial Action Task Force or FATF has a number of positive findings. However, the report finds significant weaknesses, with the most important being related to gaps in access to information on the ultimate owners of companies (beneficial owners). Read more

Malaysians worry Trump will drop a corruption investigation into his “favorite prime minister” (Quartz)

Posted on by Jane Hagan

Malaysia’s prime minister Najib Razak may have hundreds of thousands of his countrymen calling for his resignation—embroiled as he is in a multi-billion-dollar corruption case—but he has one thing to be grateful for: His onetime golfing partner is the next president of the United States, whose justice department happens to be pursuing that very same corruption case.

 

Of course, just because Trump will be president doesn’t mean he can simply order an ongoing case to be dropped. “The justice department enjoys a level of ­independence, even though the attorney general is appointed by, and reports to, the president,” said Shruti Shah, vice president of programs and operations at Transparency International in Washington, DC. Read more

We can start taking Trump seriously about ditching his business interests when he does these five things (Quartz)

Posted on by Jane Hagan

Even if Trump has the best of intentions, he will need to go beyond the bare-minimum legal and ethical standards to win over the skeptics.

“We really want to start this administration on a good footing, so that every time he makes a decision, every time he speaks to a foreign leader, every time he has a meeting people are not wondering whether he is putting his interest before the interests of the American people,” says Shruti Shah, vice president of Transparency International, a global anti-corruption NGO. Read more