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David Cameron opens London summit describing corruption as 'a cancer' – live David Cameron opens London summit describing corruption as 'a cancer' – live
(35 minutes later)
11.26am BST
11:26
Some insight from the Attorney General Jeremy Wright today on how a criminal offence of “failure to prevent” economic crimes such as fraud and money laundering might work. This was something mooted in the prime minister’s Guardian piece today.
Under existing law, a company only faces criminal liability if prosecutors can prove a sufficiently senior person knew about the criminal conduct. It can be extremely hard to prove this, especially in large companies with complex management structures.
A new offence could find companies responsible where they haven’t adequately prevented economic crime.
The failure to prevent offence would help prosecutors hold companies to account for criminal conduct at all levels of a business and show the public that organisations are not above the law.
11.18am BST
11:18
Alan Bell, the chief minister of the Isle of Man, says the US has to take more responsibility, not just blame small overseas tax havens.
It is all very well to pick on small jurisdictions, unless the US joins this international agreement, unless the US does more and gives confidence to other jurisdictions, it was heartening to hear John Kerry this morning, well, we need action not just fine words.
The Isle of Man, a crown dependency, was one of the ‘tax havens’ named in the Panama Papers but its government insists it already has robust systems in place to combat money laundering and illicit activity.
Updated
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11.15am BST
11:15
The Guardian’s diplomatic editor Patrick Wintour says that a free press is vital to tackling corruption, citing the Panama Papers revealed by the Guardian and others. He calls for the protection of whistleblowers who expose corruption.
He also says the government’s promise for a register of beneficial ownership in the UK does not go far enough, and says the government should set a timetable of two or three years for overseas territories to make public registers of ownership.
.@patrickwintour says a free press is vital in fighting #anticorruption + whistleblowers must be protected
Updated
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11.06am BST
11:06
Netherlands joins Cameron to commit to register of beneficial ownership
Applause for the Netherlands’ justice minister, Ard van der Steur, he says his country will also commit to a register of beneficial ownership and calls for others to follow.
We do need to have a world-wide system, we need to do it together. If we want to be serious, we need to have such a register everywhere.
That’s welcomed by former minister Eric Pickles
Netherlands just announced that they will commit to a public register of beneficial ownership at #anticorruption summit
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11.03am BST
11:03
Ukraine’s Daria Kaleniuk has been a key advocate for anti-corruption and transparency in the country, post-Viktor Yanukovych’s presidency.
Transparency is very important but it’s not enough, we have to have asset recovery. We have to prosecute. We hope the next step is joint-international criminal investigative teams.
11.00am BST
11:00
Norway’s Erma Solberg says that when development is discussed, that climate change, poverty and job creation are all affected by corruption.
Solberg says there are problems with transparency when company ownership is foreign, despite Norway’s register of beneficial ownership. She says that underlines how this is a global issue.
We are not free from corruption, we had heavy fines for two companies recently because they were corrupt in other countries.
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10.59am BST
10:59
Christine Lagarde: 'If you are pro-growth, you are against corruption'
“I want transparency and integrity to be a systematic part of IMF country surveillance,” she said.
.@Lagarde encourages countries to sign up to #IMF's voluntary Fiscal Transparency Evaluation at London #anticorruption summit
10.53am BST10.53am BST
10:5310:53
The next session at the summit is ‘How do we expose corruption’, chaired by José Ugaz of Transparency International.The next session at the summit is ‘How do we expose corruption’, chaired by José Ugaz of Transparency International.
On the panel is:On the panel is:
10.49am BST10.49am BST
10:4910:49
Margaret Hodge, the Labour MP and former chair of the Commons Public Accounts Committee, has this to say on Cameron’s announcement. (OT and CD refers to British overseas territories and crown dependencies.)Margaret Hodge, the Labour MP and former chair of the Commons Public Accounts Committee, has this to say on Cameron’s announcement. (OT and CD refers to British overseas territories and crown dependencies.)
Public registers of beneficial ownership in our OTs and CDs is crucial to tackling tax havens & tax avoidance. https://t.co/GkwlbL0HY9Public registers of beneficial ownership in our OTs and CDs is crucial to tackling tax havens & tax avoidance. https://t.co/GkwlbL0HY9
Good announcement by PM on property ownership but devil is in the detail. (1/2) @taxinparliamentGood announcement by PM on property ownership but devil is in the detail. (1/2) @taxinparliament
Will the registers really be public? How can we get info if tax havens refuse to co-operate and what enforcement is there? @taxinparliamentWill the registers really be public? How can we get info if tax havens refuse to co-operate and what enforcement is there? @taxinparliament
Real success of anti-corruption conference hinges on PM insisting that OTs & CDs have public registers of beneficial ownership (1/2)Real success of anti-corruption conference hinges on PM insisting that OTs & CDs have public registers of beneficial ownership (1/2)
otherwise anti-corruption conference looks like a PR stunt with PM kicking this issue into the long grass (2/2) @taxinparliamentotherwise anti-corruption conference looks like a PR stunt with PM kicking this issue into the long grass (2/2) @taxinparliament
10.45am BST10.45am BST
10:4510:45
Adrian Lovett from the ONE campaign asks about overseas territories and crown dependencies, and their participation in the push for anti-corruption.Adrian Lovett from the ONE campaign asks about overseas territories and crown dependencies, and their participation in the push for anti-corruption.
Cameron says financial centres are not automatically in the wrong, not all rely on a lack of transparency. He says the gold standard will be to have open registers of beneficial ownership, but even many developed states do not do that yet.Cameron says financial centres are not automatically in the wrong, not all rely on a lack of transparency. He says the gold standard will be to have open registers of beneficial ownership, but even many developed states do not do that yet.
The ONE campaign have been leading some of the protests around the fringes of the summit.The ONE campaign have been leading some of the protests around the fringes of the summit.
We're calling for a public register of beneficial ownership in the British Overseas Territories at #AntiCorruption pic.twitter.com/Z2WKtaxNQ8We're calling for a public register of beneficial ownership in the British Overseas Territories at #AntiCorruption pic.twitter.com/Z2WKtaxNQ8
Stop the #trilliondollarscandal #anticorruption @ONEcampaignUK pic.twitter.com/Mg5dqKAsiCStop the #trilliondollarscandal #anticorruption @ONEcampaignUK pic.twitter.com/Mg5dqKAsiC
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10.42am BST10.42am BST
10:4210:42
There’s a Q&A starting now, with Mo Ibrahim, the Sudanese-British communications entrepreneur, who urges the government to ban shell companies, saying no legitimate business has any need to use them.There’s a Q&A starting now, with Mo Ibrahim, the Sudanese-British communications entrepreneur, who urges the government to ban shell companies, saying no legitimate business has any need to use them.
Mo Ibrahim: "Legitimate business has no need for secrecy provided anonymous co's." #anticorruptionMo Ibrahim: "Legitimate business has no need for secrecy provided anonymous co's." #anticorruption
Mo Ibrahim of the @thebteamhq calls for open contracts and an end to shell companies at the #AntiCorruption Summit pic.twitter.com/qd0xODtzQIMo Ibrahim of the @thebteamhq calls for open contracts and an end to shell companies at the #AntiCorruption Summit pic.twitter.com/qd0xODtzQI
UpdatedUpdated
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10.39am BST10.39am BST
10:3910:39
Jim Yong Kim, president of the World Bank, says corruption is going to become more difficult in the modern world.Jim Yong Kim, president of the World Bank, says corruption is going to become more difficult in the modern world.
We are living in a world of radical transparency, whether we like it or not, hackers are going to expose more and more.We are living in a world of radical transparency, whether we like it or not, hackers are going to expose more and more.
Jim says that everyone knows what the best practices are, and combatting is one things, but we need to put in place practical processes to help countries develop proper systems.Jim says that everyone knows what the best practices are, and combatting is one things, but we need to put in place practical processes to help countries develop proper systems.
10.35am BST10.35am BST
10:3510:35
Sarah Chayes, the US author whose book was praised by Cameron, says this is not a question of a few bad apples, it is the work of the biggest criminal organisations on the planet, in some cases terror organisation.Sarah Chayes, the US author whose book was praised by Cameron, says this is not a question of a few bad apples, it is the work of the biggest criminal organisations on the planet, in some cases terror organisation.
We have all been extremely unintegrated in our efforts to combat this. It is courageous to hold this summit, in this town, now.We have all been extremely unintegrated in our efforts to combat this. It is courageous to hold this summit, in this town, now.
Chayes says holding the summit in London was “guaranteed to expose” how Western economies have been relying on proceeds of corruption.Chayes says holding the summit in London was “guaranteed to expose” how Western economies have been relying on proceeds of corruption.
You can read Sarah Chayes' chapter on the link between corruption & terrorism in our new book https://t.co/5mPCuI5lEa #AntiCorruptionYou can read Sarah Chayes' chapter on the link between corruption & terrorism in our new book https://t.co/5mPCuI5lEa #AntiCorruption
UpdatedUpdated
at 10.36am BSTat 10.36am BST
10.32am BST10.32am BST
10:3210:32
Nigeria's President: 'The international community has looked the other way for too long'Nigeria's President: 'The international community has looked the other way for too long'
President Buhari says the international community must come up with ways of dismantling safe havens and ensure a swifter return of assets.President Buhari says the international community must come up with ways of dismantling safe havens and ensure a swifter return of assets.
Nigeria is calling on the summit to create a strategic action plans to facilitate the return of assets and stolen funds, hidden in secret bank accounts abroad, he said.Nigeria is calling on the summit to create a strategic action plans to facilitate the return of assets and stolen funds, hidden in secret bank accounts abroad, he said.
He cites the oil sector, where he says the corruption there is a threat to Nigeria’s economy and its national security.He cites the oil sector, where he says the corruption there is a threat to Nigeria’s economy and its national security.
Buhari - wants mechanisms to combat illegal activity in oil sector incl oil theft #anticorruption pic.twitter.com/Md4MgRIE9bBuhari - wants mechanisms to combat illegal activity in oil sector incl oil theft #anticorruption pic.twitter.com/Md4MgRIE9b
.@NGRPresident: "International community has looked other way too long." #anticorruption.@NGRPresident: "International community has looked other way too long." #anticorruption
10.27am BST10.27am BST
10:2710:27
Kerry says some nations will see a clampdown on corruption as an opportunity for them to exploit crackdowns elsewhere and make money.Kerry says some nations will see a clampdown on corruption as an opportunity for them to exploit crackdowns elsewhere and make money.
We have to say to them, there is no safe harbour anywhere. No impunity to corruption.We have to say to them, there is no safe harbour anywhere. No impunity to corruption.
Kerry says he believes when countries feel the heat of enforcement, standards will change. quickly. “I view today genuinely very important moment,” he says.Kerry says he believes when countries feel the heat of enforcement, standards will change. quickly. “I view today genuinely very important moment,” he says.
10.24am BST
10:24
John Kerry addresses anti-corruption summit, saying this is not 'passing fancy'
This is the beginning of something, Kerry says. “We are fighting for our states, countries, our nations,” he says. Corruption destroys nation states, as much as some of the extremists we are fighting.
Some people say that is hogwash, but corruption tears at the fabric of society.
He points to the beginning of the Arab Spring, when a young Tunisian fruit seller burned himself to death, in a frustrated protest at widespread corruption.
He says of the billions of dollars stolen in corruption, the money could be desks, schools and books.
Criminal activity is a literal destroyer of nation states, it contributes to drug trafficking, human trafficking, it creates deep states within states. It is a contributor to terrorism, my friend. Extremism comes with utter sense of desperation from people who feel the system is rigged. People are angry and the anger is going to grow.
Kerry says he believes corruption is not part of a culture, but that culture can change and adapt.
10.18am BST
10:18
Cameron says he is looking to business for support, saying accountants have sometimes been “enablers” of corruption.
He wants to address how assets can be recovered, with new legislation in 21 new countries, how to tackle corruption and how to punish the corrupt.
Cameron says they want to find new methods to drive out corruption not just from parliament but national bodies like sport. He says this is about “changing culture”, not just practices.
The audience will be able to challenge the suggestions and ask questions throughout, he says.
10.15am BST
10:15
David Cameron opens summit calling corruption 'a cancer'
If we want to tackle extremism, we have to tackle corruption. If we want to deal with people not paying their taxes, if we want to deal with money laundering, we have to deal with corruption.
Cameron says the issue hit home for him was when he went with Ban Ki Moon to developing countries to ask about clear goals neededto replace the millenium development goals.
He says people wanted justice and action on corruption as much as they wanted clean water and sanitation
9.58am BST
09:58
The summit’s plenary opening session ‘The cost of corruption’ will be starting in the next ten minutes.
David Cameron will make the opening remarks and then we’re expecting to hear from:
That’ll be followed by a Q&A, and you should be able to follow it on the livestream above.
Updated
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9.49am BST
09:49
Anti-corruption summit criticised for absence of Fifa, Panama
One international body is notable for their absence - Fifa. Corruption in sport is a key focus of the summit but the football governing organisation was not invited by the Prime Minister, despite being mired in a corruption scandal.
Downing Street said the International Olympic Committee would instead be involved in a panel discussion on financial crimes in sport. A Downing Street spokesman told the Telegraph they had invited only one representative body from sport.
There is one focus session which will be on sport, which is clearly, absolutely, the top of the agenda when we are talking about corruption.
Labour deputy leader Tom Watson laid into the PM over this omission today, telling PoliticsHome: “What’s the point of having an anti-corruption summit if you fail to invite either the overseas territory that profits from it or the sports body that’s become a byword for corruption? Like so many Cabinet Office initiatives, this is shaping up to be a failure before it’s even started.”
And one country is notable for its absence too - Panama. A government spokesman confirmed they had also not been invited.
They are a special case. They have not been invited, but we are trying to work with them bilaterally.
FAIL -> Neither Panama nor British Virgin Islands were at Cameron's much vaunted anti-corruption summit. https://t.co/c4mDkLYjJ8
Updated
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9.33am BST
09:33
Oxfam have organised a protest in Trafalgar Square, with “bankers” in bowler hats on a beach, representing tax havens.
Bermuda and the Cayman Islands are represented at the summit but others, such as the British Virgin Islands, are not.
Campaigners have insisted Britain must go further to tackle corruption than the measures announced today, and insist that the territories’ ownership registers are made public.
In a letter coordinated by Oxfam ahead of the summit, more than 300 economists argued that tax havens produce no economic benefit and “are distorting the working of the global economy.”
Signatories included American academic Jeffrey Sachs of Columbia University, France’s Thomas Piketty and Nobel economics laureate Angus Deaton.
It’s time to #EndTaxHavens 🚫🌴💰RT if you agree @David_Cameron must take tough action today #AntiCorruption pic.twitter.com/KyLbcKzts0
Very 'comfortable' on my tax haven.... #endtaxhavens pic.twitter.com/DygotDbDnt
early morning bankers enjoying their #taxhaven @oxfamcampaigns #EndTaxHavens #anticorruption pic.twitter.com/RKcLFAPt86
Life's a beach if you're a tax dodger. Join our pop up tax haven in Trafalgar Square! #EndTaxHavens #anticorruption pic.twitter.com/tYvEbpwa7W
Updated
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9.24am BST
09:24
We’re expecting there to be some protests on the fringes of the summit, with so many world leaders in attendance, though there are relatively few out at the moment, and far outnumbered by police.
9.20am BST
09:20
There’s now a livestream of the arrivals at Lancaster House at the top of this live blog, though we don’t expect there to be anything more than arrivals until 10am.
For now, you can see world leaders being greeted by the Foreign Office minister Hugo Swire, accompanied by some tinkling background music.
Updated
at 9.27am BST
8.55am BST
08:55
Heads of state have begun arriving at Lancaster House for the summit, which begins at 10am with an opening address from David Cameron.
No detailed itinerary for the day has been made public but we’re expecting opening remarks from the prime minister, US secretary of state John Kerry and Nigeria’s President Buhari.
Others attending the summit include president of Afghanistan Ashraf Ghani, Jim Yong Kim, president of the World Bank, Colombian president Juan Manuel Santos, Christine Lagarde, managing director of the IMF, Erna Solberg, Norway’s prime minister, Ángel Gurría, secretary general of the OECD and Maithripala Sirisena, president of Sri Lanka.
Updated
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8.32am BST
08:32
Cameron launches anti-corruption summit in London
World leaders, heads of civil society and business are arriving for an anti-corruption summit in the UK capital.
Ahead of the summit, the prime minister announced he would introduce a new corporate offence for executives who fail to prevent fraud or money laundering inside their companies, to counter claims that the aims of the summit ring hollow with London’s reputation as the money laundering capital of the world .
In an article for the Guardian, Cameron describes corruption as “the cancer at the heart of so many of the world’s problems” and says it destroys jobs, traps the poorest in poverty, weakens security and even undermines sport.
Here’s how the day will pan out:
The all-day summit at Lancaster House will be attended by the US secretary of state, John Kerry, and world leaders including Muhammadu Buhari, the Nigerian president, and Ashraf Ghani, the president of Afghanistan. Cameron was caught on camera on Tuesday describing both countries as “fantastically corrupt”.
Buhari, who was elected on a mandate to fight corruption did not demand an apology from Cameron, saying the prime minister was “being honest”, but added:
Unfortunately, our experience has been that repatriation of corrupt proceeds is very tedious, time consuming, costly ... The repatriation of identified stolen funds should be done without delay or preconditions.
Cameron has made a series of policy pledges to coincide with the launch of the summit.
The summit will also hear a discussion on world sport though Fifa, the football governing body in the midst of a corruption scandal, will not attend.
In the spirit of openness, Cameron has pledged that none of the sessions will be held behind closed doors, with all of the discussions live-streamed.
Updated
at 9.25am BST