Anti-Corruption Global Summit Focuses on Exchanging Beneficial Ownership Information

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Friday, May 20, 2016
Author: 
Bruce Zagaris
Volume: 
32
Issue: 
5
Abstract: 
On May 12, 2016, more than 40 governments attending the Anti-Corruption Summit in London 2016, issued a communiqué, pledging to act against corruption.  The communiqué pledges to promote integrity, transparency and accountability, by exploring innovative solutions and new technologies, and by strengthening international cooperation.  It pledges to monitor the success of policies and strategies, learning from and embedding best practices.  The communiqué noted the centrality of the UN Convention against Corruption (UNCAC) and its desire to implement and build on its provisions and those of other international, regional and bilateral anti-corruption instruments to which their countries may be a party.  The participants pledge to support international institutions and encourage them to strengthen their individual and collective contributions to the fight against corruption.  The Summit resulted, in addition to various pledges, some concrete efforts to strengthen the ability of countries to conduct asset recovery and help developing countries with prosecuting corruption cases and recovering assets from such cases.