Past event: Conference on Tax Transparency and Corruption, July 14-15, 2021
We are pleased to invite you to our online Conference on Tax Transparency and Corruption, July 14-15, 2021.
Over the last year and a half, the WU GTPC team have, through frequent focus group calls with officials from tax authorities, financial intelligence units and other law enforcement agencies from over 15 countries across Africa, established a number of case studies to identify best practices in the use of unexplained wealth orders, implementation of beneficial ownership requirements and their overall contribution to inter-agency cooperative efforts. In particular, risk management and identification have emerged as key towards utilizing the capacity and skills of officials in the most efficient way. Considering the wealth of information obtained from beneficial ownership, suspicious transaction reporting, legal ownership information and even media reporting, amongst others, authorities must be able to identify the highest risk actors, sectors, structures, accounts etc.. Their ability to understand and consistently act on risk is very much anchored on cooperation not just with other law enforcement agencies or ministries within government (such as energy and mining), but also with financial institutions and other designated non-financial businesses and persons. Indeed the role of financial institutions is extremely imperative to the success of detection and authorities everywhere have engaged with them as gateways to global and national financial transactions. Some of these key considerations will be debated and discussed during our upcoming conference as the team continues to develop best practices and even bad practices where risk management is concerned.