The role of private sector gatekeepers in tackling corruption is more vital than ever

• The war in Ukraine has shown how financial markets and anti-corruption are intertwined with global security and democratic prosperity.
• Western countries imposed sanctions on Russia in response, but their markets have been key in moving the same assets these sanctions target.
• Anti-corruption efforts worldwide need to be taken more seriously at home, abroad and across the public-private divide.

The war in Ukraine makes painfully clear that financial markets and anti-corruption are intimately intertwined with global security and democratic prosperity.

For weeks, anti-corruption experts have been discussing the various ways that long-standing regional corruption may be fuelling and perpetuating the current conflict. Meanwhile, Western democracies have responded to the war in Ukraine with ever-growing sanctions against the Russian economy and political elite.

As previously exposed by the “Panama” and “Pandora” papers, however, corruption is not only a regional problem. Rather, the international financial system, and Western markets in particular, have played an essential role in moving, hiding and investing the very same assets that Western sanctions are presently after.

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Πηγή: weforum.org