GOVERNMENTS AND BANKS FAILING TO TACKLE FINANCIAL CRIME, SAYS UN

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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