David Cameron to propose global anti-corruption agency in wake of Panama Papers

Posted On: 
5th May 2016

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 agency would facilitate information-sharing in a bid to tackle money laundering and tax evasion
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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.

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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.