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6 th Meeting of National PCD Focal Points 13 June 2013

Measuring OECD Responses to Illicit Financial Flows from Developing Countries. 6 th Meeting of National PCD Focal Points 13 June 2013. Measuring OECD Responses to IIlicit Financial Flows.

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6 th Meeting of National PCD Focal Points 13 June 2013

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  1. Measuring OECD Responses to Illicit Financial Flows from Developing Countries 6th Meeting of National PCD Focal Points13 June 2013

  2. 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.

  3. Chapter 1: Concept of ILLICIT FINANCIAL FLOWS

  4. 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

  5. Chapter 2: Money LaunderingAverage OECD Score on all 40 FATF Recommendations CDD PEPs Beneficial ownership Correspondent Banking Regulation, Supervision, Monitoring Regulation of DNFBPs Sanctions High risk jurisdictions

  6. FATF: Best, Worst performers

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

  8. Chapter 4: International bribery Source: OECD Working Group on Bribery Annual Report 2011, p.14.

  9. Chapter 5: Recovering Stolen Assets

  10. Chapter 6: What role for aid agencies?

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