Workshop 4.1

Workshop 4.1 Breaking the links between Banking and Corruption

Stream 1 Peace and Security

Coordinators: Jeremy Carver, Director, Transparency International-UK
Anthea Lawson, Researcher, Global Witness
Date: Saturday 11:00 to 13:00
Location: Dimitris Mitropoulos Hall

The workshop is a genuine attempt to explore how banks can be reinforced in their ability to be effective gatekeepers. The disastrous effects of corruption on government has raised concern over the ease with which corrupt rulers can hide stolen money in the world's financial markets. Significant efforts have been made to stop funding for terrorism; but much less to check and expose the fruits of corruption. The workshop will discuss the latest research carried out by Global Witness into the role of banks in facilitating corruption, and consider how financial institutions can fight against corrupt customers. What are the constraints that hinder banks; and would better international regulation help? Can Wolfsberg, EITI and other international transparency initiatives ensure that public funds are fully accounted for? Does experience of tackling terrorist finance offer solutions for dealing with corruption ?

The objective is to asses the current regulatory framework, see where its weaknesses are and produce recommendations to enhance its effectiveness in curbing corruption.

Moderator: Jeremy Carver, Director, Transparency International-UK
Rapporteur: Todias Bock, Policy and Research Department, Transparency International

Anthea Lawson, Researcher, Global Witness
David Bagley, Head of Compliance, HSBC
Raymond Baker, Director, Global Financial Integrity; Guest Scholar, The Brookings Institution, and Senior Fellow, Center for International Policy
Patrick Moulette, Head of Anti-Corruption, OECD