NEW YORK—Transparency International has submitted a global petition to the United Nations General Assembly preparing for the UN’s first-ever Special Session against Corruption, UNGASS 2021, which will take place in June 2021.
The petition calls for UNGASS 2021 to put an end to anonymous shell companies facilitating cross-border corruption and other crimes, by committing all countries to set up national, public registers of companies, and in turn, create a new “global standard” for beneficial ownership transparency, global law firm DLA Piper said.
“Transparency in company ownership is more than a technical solution to a problem,” DLA Piper said. “It is a matter of social justice.”
The petition is signed by over 700 organizations and individuals from 120 countries, including well-known multi-national companies and distinguished diplomats, DLA Piper said.
“Anonymous shell companies are recognized as one of the most widely used methods for diverting public funds, channeling bribes, evading tax and concealing ill-gotten gains, as part of cross-border corruption and money laundering schemes,” the company continued. “This should not be viewed as an issue that exists only in those jurisdictions who have traditionally been recognized as tax havens and the home of shell companies. In Australia, the Australian Securities & Investments Commission has acknowledged the issue.”