Discover and read the best of Twitter Threads about #IllicitFinancialFlows
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Some important lessons from the #PandoraPapers, thread š§µ
documents.worldbank.org/en/publicationā¦
documents.worldbank.org/en/publicationā¦
1. The #PandoraPapers confirm that #BeneficialOwnership is the mother of all sins, and allows #IllicitFinancialFlows.
2. The #PandoraPapers confirm the importance of focusing on the facilitators - those who enable corruption, tax avoidance/evasion and financial crimes. This is not new and has already been highlighted by the @FACTIpanel and others.
Follow along in this thread for the highlights of today's new UN @FACTIpanel release, and all the recommendations for how to finally curtail #illicitfinancialflows. 
Statement from UN Secretary-General @antonioguterres: "I warmly welcome the @FACTIpanel report. The Panel has delved into how... current international tax norms deprive governments of needed revenues."
Munir Akram: "Every year, trillions of dollars flow out of developing countries due to... criminal activities, and tax evaders.... The existence of safe [offshore] havens that receive illicit money must be dismantled."
#illicitfinancialflows
#illicitfinancialflows
