Fighting Illicit Flows - A Collective Response Read more about Fighting Illicit Flows - A Collective Response Money laundering in the region is costing governments and economies billions, which could have been used for the development and social sector gains for its populations. Global Financial Integrity Policy Director Lakshmi Kumar discusses how much countries lose with illicit financial flows, and how strength of anti-money laundering institutions, transparency mechanism, and establishment of systems such as automatic exchange of information can help in the fight against corruption.
Exposing Dirty Money: My 1 MDB Story Read more about Exposing Dirty Money: My 1 MDB Story Journalist Clare Rewcastle Brown discusses how the multibillion-dollar financial scandal of 1MDB unfolded, with its multiple red flags of financial transfers and fronting politically exposed persons involved. She notes in this presentation how it was seen as the largest kleptocracy investigation and global asset seizure to date, and how a free media plays a vital role in combating and tracing the complex paths of such graft.
Lakshmi Kumar Keywords ADB anticorrption day financial integrity OAI Read more about Lakshmi Kumar Lakshmi Kumar is the Policy Director at Global Financial Integrity with several years of experience working on issues of financial policy, securities investigation, regulatory governance, anti-corruption, and anti-money laundering/terrorist financing.
International Anticorruption Day 2016 Read more about International Anticorruption Day 2016 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.