Helping developing member countries fight corruption is an important factor in ADB’s mission to support development in Asia and the Pacific. ADB’s governance and anticorruption policies highlight the importance of good governance as a driver of economic reform and growth. However, acts of corruption, such as on money laundering and tax evasion, and the misuse of much needed development funds worsen income inequalities, and weaken the ability of governments to provide public services efficiently and effectively. These acts of corruption have grown to be increasingly sophisticated in the recent years due to technological advances and globalization. Companies can move themselves and their money more freely, and can even hide evidence of wrongdoing, and avoid financial and taxation controls.  

This year’s International Anticorruption Day speaker highlighted the secrecy provided by so-called tax havens has assisted companies and individuals in hiding not just taxable income, but the proceeds of crime as well. The presentation also discussed how some of the biggest and most controversial dilemmas facing our world today—corruption, money laundering, and weak tax integrity—have been tackled through investigative journalism and publication of such financial information.