David Cameron to propose global anti-corruption agency in wake of Panama Papers
David Cameron plans to propose a world-wide anti-corruption agency to help local law enforcement tackle white collar crime such as tax evasion.
The Prime Minister will raise the prospect at next week's anti-corruption summit after the world was rocked by revelations of mass-scale tax haven use in the so-called Panama Papers.
Such a body would help national agencies and investigators crack down on money laundering and would likely involve a broadening of the OECD's remit to root out bribery and tax crime.
According to Sir Eric Pickles, the Government's anti-corruption tsar, the agency would not have its own law enforcement powers but would facilitate information exchange.
He said: “The Panama Papers has changed the climate. Those who come up with technical arguments about why change cannot be made, or say they need more time, are getting a lot less of a hearing.
“The public are impatient to see progress. The Panama Papers showed a lot of sons of presidents and relatives of presidents thought they could hide their people’s money abroad. Transparency is going to make that a lot more difficult.”
Sir Eric also revealed sports bodies including Fifa and Uefa will sign a joint statement pledging to fight corruption in sport.
Some 40 countries are expected at the summit to be hosted by Mr Cameron this month.
A push for greater transparency in public procurement is also expected to be on the agenda.