India - The U.S.A. - South Africa

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G20 nations to discuss ways to trace and extradite economic offenders. This week, the Anti-Corruption Working Group (ACWG) of the G20 countries will meet in Gurugram, India. Topics such as proactive sharing of information, improvement of existing mutual legal assistance frameworks and simplifying mechanism for sharing information between domestic law enforcement authorities will be discussed says Jitendra Singh, Indian Union Minister of State for Personnel

The Hindu: https://www.thehindu.com/news/national/g20-nations-to-discuss-ways-to-trace-extradite-economic-offenders-jitendra-singh/article66559867.ece

 

U.S. Treasury Department's company ownership database proposal face criticism. Experts say the creation of a registry of company owners is crucial for unmasking the people behind anonymous shell companies that criminals and terrorists use to hide and transfer illicit cash. The American Banking Association calls for the new proposal to be withdrawn as it "would require banks to attain customers' consent before accessing ownership data". Attorney calls it "an attempt to limit the utility of the registry".

International Consortium of Investigative Journalists (ICIJ): https://www.icij.org/investigations/fincen-files/proposed-rule-would-render-us-company-registry-effectively-useless-bankers-warn/

 

 

South Africa grey-listed by the Financial Action Task Force (FATF). A grey listing by FATF indicates that a country faces shortcomings in tackling illicit financial flows. This could scar international reputation and may raise financial costs for the country. Despite significant progress from 2021 to January 2023, South Africa is grey listed until further strategic deficiencies are addressed.

The South African: https://www.thesouthafrican.com/news/south-africa-officially-greylisted-here-is-what-you-need-to-know-latest-breaking-news-26-february-2023/

 

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