Measuring OECD Responses to Illicit Financial Flows from
- Slides: 10
Measuring OECD Responses to Illicit Financial Flows from Developing Countries 6 th Meeting of National PCD Focal Points 13 June 2013
Measuring OECD Responses to IIlicit Financial Flows • We are measuring policy and practice ‘effort’ by OECD countries in addressing illicit flows originating from the developing world. • We are NOT measuring volumes of financial flows (estimates problematic but likely to outstrip aid). NOT saying anything about the RELATIVE importance of the various parts of the IFF landscape. • Output : comparative report based on open source data, with recommendations.
Chapter 1: Concept of ILLICIT FINANCIAL FLOWS
Therefore, the focus of our report is on: • Money Laundering: AML Standards • Tax Evasion: Exchange of Information (to address tax havens) • Bribery: Anti-Bribery Convention • Stolen Assets: Asset Recovery • Development Cooperation
Chapter 2: Money Laundering Average OECD Score on all 40 FATF Recommendations CDD Beneficial ownership PEPs Correspondent Banking Regulation, Supervision, Monitoring High risk jurisdictions Regulation of DNFBPs Sanctions
FATF: Best, Worst performers
Chapter 3: Tax Evasion Fighting tax evasion through exchange of tax information
Chapter 4: International bribery Source: OECD Working Group on Bribery Annual Report 2011, p. 14.
Chapter 5: Recovering Stolen Assets
Chapter 6: What role for aid agencies?
