From the halls of the United Nations and G20 Summits to the streets of cities across the world, illicit financial flows are becoming a hotly debated topic. High profile leaks like the Panama Papers have drawn the public’s attention to the extreme secrecy available for the right price. When trillions of dollars flow through a shadow financial system beyond public scrutiny, citizens of rich and poor countries both lose. Northern governments under pressure to stop illicit financial flows have been outspoken in communiqués and press releases, but 3 of the top 5 secrecy jurisdictions still lie in Europe and the U.S. This, coupled with a number of recent backslides on financial transparency, makes a concerted push all the more timely.
At the 7th Financial Transparency Conference, we’ll bring together civil society, government officials, journalists and policy experts to discuss the problem of illicit financial flows, while brainstorming new ways to combat its effects on growth and development in our respective countries. By igniting debates with a variety of stakeholders, we’ll aim to move the discussion forward on issues like financing for development, the role of gatekeepers to the financial sector, bringing transparency to company ownership and public reporting for multinational corporations.
Please note that Global Alliance for Tax Justice’s chair Dereje Alemayehu will be talking in the first plenary session on October 24th, titled “What exactly is an illicit financial flow? The crucial role of data and politics play in reducing illicit financial flows and reaching sustainable development goals”.
More information, registration and detailed program are available online here.