Extractives beneficial ownership / UNCAC asset repatriation / Indonesia corporate liability

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Who owns extractive resources in Asia? (Blog).  “Improving beneficial ownership transparency in the Asia and Pacific region is key to addressing corruption risks in the extractive sector, improving the business climate, avoiding conflicts of interests for politically exposed persons (PEPs), and preventing the use of shell companies from perpetrating illicit financial flows, money laundering and bribery.”

Eddie Rich/The Extractives Industries Transparency Initiative: https://eiti.org/blog/who-owns-extractive-resources-in-asia

 

Asset Repatriation Under UNCAC (Blog).  “No international convention had ever before required a state where the proceeds or the instruments of the crime were found to return them to the state where the offense was committed.”

Rick Messick/The Global Anticorruption Blog: https://globalanticorruptionblog.com/2019/03/27/asset-repatriation-under-uncac/

 

Cost of corruption for corporations in Indonesia.  The successful implementation of corporate criminal liability in the NKE case paves the way for subsequent indictments and sentencing of corporations for criminal actions. In 2018 alone, KPK named four corporations as suspects in a number of corruption cases, which include a state-owned entity.

Asia Business Law Journal: https://www.vantageasia.com/cost-corruption-corporations-indonesia/

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