6 th meeting of national pcd focal points 13 june 2013

Measuring OECD Responses to Illicit Financial Flows from Developing Countries

6th Meeting of National PCD Focal Points13 June 2013

Measuring OECD Responses to IIlicit Financial Flows

• We are measuring policy and practice ‘effort’ by OECD countries in addressing illicit flows originating from the developing world.

• We are NOT measuring volumes of financial flows (estimates problematic but likely to outstrip aid). NOT saying anything about the RELATIVE importance of the various parts of the IFF landscape.

• Output : comparative report based on open source data, with recommendations.

Chapter 1: Concept of ILLICIT FINANCIAL FLOWS

Therefore, the focus of our report is on:

• Money Laundering: AML Standards

• Tax Evasion: Exchange of Information(to address tax havens)

• Bribery: Anti-Bribery Convention

• Stolen Assets: Asset Recovery

• Development Cooperation

Chapter 2: Money LaunderingAverage OECD Score on all 40 FATF Recommendations

Beneficial ownership PEPs

Regulation of DNFBPs

Correspondent Banking

CDD

SanctionsHigh risk jurisdictions

Regulation, Supervision, Monitoring

FATF: Best, Worst performers

Chapter 3: Tax Evasion Fighting tax evasion through exchange of tax information

Source: OECD Working Group on Bribery Annual Report 2011, p.14.

Chapter 4: International bribery

Chapter 5: Recovering Stolen Assets

Chapter 6: What role for aid agencies?