GOVERNMENTS AND BANKS FAILING TO TACKLE FINANCIAL CRIME, SAYS UN
October 2nd, 2020
Governments and banks around the world are doing too little to tackle tax abuses, money laundering and corruption, according to a United Nations report. A September 24 interim assessment from the High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI Panel) found that outmoded financial controls have failed to keep pace in a globalised, digitalised world. Global losses to governments from legal and illicit profit-shifting enterprises top USD500 billion annually; private wealth hides USD7 ...
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