Posted Friday June 12, 2015

Weekly roundup

Weekly roundup: Deutsche Bank investigating Russian clients, Romanian prime minister under money-laundering allegations, World Bank to publish UBOs of contract bidders and more

  • The World Bank proposed to publicize the ultimate beneficial owners of all companies bidding for bank-funded contracts in a move to eradicate nepotism and procurement fraud. The reform will be discussed in front of the institution’s board next month.

And finally, in an article for Huffington Post David Cameron, reiterated the UK’s commitment to “lead the world on open data and transparency” in order to fight corruption. The central register of ultimate beneficial owners will be established next year and the prime minister pledged to pressure British overseas tax havens to follow this step. Meanwhile, MPs criticised the loopholes in proposed transparency legislation while a London law firm told its wealthy clients not to worry about potential obligations to disclose ownership.

Arachnys weekly update

New sources: 12

Source of the week: The Global PEP Database contains ca. 700,000 records from 240 countries and territories worldwide. You can search for names in original, non-Latin scripts and aliases as well. The results include information about functions, location, DOB and when this person left office. The database also includes close relatives and associates.

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