G8 Sea Island Fighting Corruption and Improving transparency: Leader's Statement

Organisation : G8
Date made: 
2004

Commitments in: Other

“UN CONVENTION AGAINST CORRUPTION AGREED…

... • We are committed to translating the words of this Convention into effective actions and assisting third countries, particularly developing countries, in accomplishing the objectives of the Convention...

...• We support our Ministers’ determination to detect, recover and return these illicitly acquired assets, including by:

-- establishing G-8 accelerated response teams;

-- enhancing G-8 asset recovery case coordination; and

-- holding G-8 asset recovery workshops.

• To meet these goals, we will ensure that:

-- each of our countries has rules in place by Summer 2005, where possible, to require due diligence for “politically exposed persons” accounts;

-- each of our countries has rules in place, preferably by 12/31/04, to require wire transfer originator information;

-- we create G8 best practices for modalities of disposition and return; and

-- we explore effective measures to recover assets in corruption cases.

DENYING SAFE HAVEN TO OFFICIALS GUILTY OF CORRUPTION...

... We will direct our experts to examine and improve efforts to achieve this objective and review progress at our next Summit.

OECD ANTI-BRIBERY CONVENTION REVIEWS ACCELERATED AND CORPORATE COMPLIANCE PROGRAMS ENCOURAGED...

...• We will adhere rigorously to our updated 2004-2007 enforcement review schedule, honour our pledges to serve as lead examiners or examinees, and send our prosecutors and other law enforcement officials to participate in peer reviews.

• We will encourage efforts of our private sectors to develop and implement corporate compliance programs to promote adherence to laws against foreign bribery, and welcome the positive steps already taken by certain industries to develop specific principles relevant to their specific activities to promote such compliance.”

Scope: 
International