6 th Meeting of National PCD Focal Points 13 June 2013
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Transcript of 6 th Meeting of National PCD Focal Points 13 June 2013
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Measuring OECD Responses to Illicit Financial Flows from Developing Countries
6th Meeting of National PCD Focal Points13 June 2013
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Measuring OECD Responses to IIlicit Financial Flows
• We are measuring policy and practice ‘effort’ by OECD countries in addressing illicit flows originating from the developing world.
• We are NOT measuring volumes of financial flows (estimates problematic but likely to outstrip aid). NOT saying anything about the RELATIVE importance of the various parts of the IFF landscape.
• Output : comparative report based on open source data, with recommendations.
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Chapter 1: Concept of ILLICIT FINANCIAL FLOWS
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Therefore, the focus of our report is on:
• Money Laundering: AML Standards
• Tax Evasion: Exchange of Information(to address tax havens)
• Bribery: Anti-Bribery Convention
• Stolen Assets: Asset Recovery
• Development Cooperation
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Chapter 2: Money LaunderingAverage OECD Score on all 40 FATF Recommendations
Beneficial ownership PEPs
Regulation of DNFBPs
Correspondent Banking
CDD
SanctionsHigh risk jurisdictions
Regulation, Supervision, Monitoring
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FATF: Best, Worst performers
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Chapter 3: Tax Evasion Fighting tax evasion through exchange of tax information
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Source: OECD Working Group on Bribery Annual Report 2011, p.14.
Chapter 4: International bribery
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Chapter 5: Recovering Stolen Assets
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Chapter 6: What role for aid agencies?