Anti-Corruption Summit in London; Governments Call for Company Registration

At the anti-corruption summit held on Thursday, May 23, in London, representatives from participating countries ranging from Afghanistan to the UK committed to establishing an office for the public registration of companies to make the transfer of income from money laundering more difficult globally. According to Reuters, David Cameron, the Prime Minister of the UK and host of the summit, announced that public company registration is one of the steps to combat global corruption. However, critics argue that as long as the so-called 'tax havens,' many of which are under British control, do not end the secrecy of their activities, company registration will have little impact. Meanwhile, Mr. Cameron had privately referred to Afghanistan and Nigeria as 'strangely corrupt' in the presence of the Queen of the UK on Wednesday. The audio and video of this private conversation were later broadcast on many news networks. However, he later stated that the leaders of both countries are combating corruption. At this summit, attended by around 40 countries, U.S. Secretary of State John Kerry expressed surprise at the extent of corruption worldwide and stated he was shocked by the issue. Mr. Kerry said, 'Corruption in various ways contributes to terrorism and extremism in the world we see today, and this public anger stems from their feelings towards the corrupt system.' According to the report, the UK, France, the Netherlands, Nigeria, and Afghanistan committed to creating an office for the public registration of company ownership, while Australia, New Zealand, Jordan, Indonesia, Ireland, and Georgia announced that they would take initial steps to establish such a system. The U.S. Secretary of State announced that the United States had previously taken steps to improve and clarify company ownership. According to Reuters, the participating countries issued a 34-point statement at the end of the London summit detailing their commitments, including the use of performance-enhancing drugs by athletes, determining the outcomes of sports competitions, tax evasion, and bribery. David Cameron and the organizers of the anti-corruption summit also released a separate statement in which each of the 40 participating countries set commitments for themselves. The British Prime Minister emphasized that civil society, the media, and others must hold governments accountable, and they must be responsible for their actions. Mr. Cameron stated that foreign companies owning property in the UK or intending to purchase property or participate in government tenders must be registered in the public office. He said, 'We want to know the details of the requests and how we monitor them and clarify what penalties should be imposed in case of non-compliance.' He considered the numerous controversies surrounding the luxurious homes of corrupt foreign politicians or corporate executives as one of London's acute problems. The release of the 'Panama Papers,' which recently caused a scandal by hacking a legal office and offshore company registry in Panama, brought tax evasion to the forefront of government discussions. On Thursday, a group of protesters demonstrated around the venue of the anti-corruption summit in London, calling for the elimination of 'tax havens.'