TIPS Newsletter | October 2021
Dear TIPS Member,
It is impossible to ignore the magnitude of the Pandora Papers. The Pandora papers are the largest trove of leaked data exposing tax haven secrecy in history. They provide a rare window into the hidden world of offshore finance, casting light on the financial secrets of some of the world’s richest people. In total, the trove consists of 11.9m files leaked from a 14 offshore service providers, totalling 2.94 terabytes of information, making it larger in volume than both the Panama papers (2016) and Paradise papers (2017).
If you have been struggling to get to grips with the sheer volume of stories coming out of this leak, you are not alone. As a starting point, we recommend that you read the ICIJ’s summary and watch the related BBC Panorama documentary.
In the words of TI-UK’s Director of Policy, Duncan Hames, “These revelations should act as a wakeup call for the Government and regulators to deliver on much-needed and long-overdue measures to strengthen Britain’s defences against dirty money. These leaks show that there is one system for corrupt elites who can buy access to prime property and enjoy luxury lifestyles and another for honest hard-working people.”
Please see below the TIPS Newsletter for October 2021. We look forward to seeing you soon.
- the TIPS team
1. Upcoming Events (register on our Events page)
TIPS Careers Panel | 17 Nov 2021 | 6-7.15pm GMT
TIPS Virtual Talk | 29 Nov 2021 | 7-8pm GMT
How to improve your company’s ESG strategy and take action? | 2 Nov 2021 | 8-9am GMT
How can you harness informality to design anti-corruption interventions? | 4 Nov 2021 | 2-3pm GMT
COP26: expectations, challenges, goals and actions | 11 Nov 2021 | 7-8.30pm GMT
Wildlife Cybercrime Investigations | 22 Nov 2021 | 6-8pm GMT
Will ESG rhetoric lead to a wave of investigations? | 25 Nov 2021 | 9-10am GMT
2. Recent Events
TIPS Virtual Talk | Summary
On 25 October 2021, 12 TIPS members attended an engaging discussion session presented by Tilly Prior and Bonnie Groves of TI-UK on TI-UK’s May 2021 publication Make it Count. It was a thought provoking session that led to discussion on how companies can do more to measure compliance programme effectiveness and how they can effectively communicate the steps taken to internal and external stakeholders alike.
Many thanks to Tilly and Bonnie for presenting and moderating an excellent session!
3. Items of Interest
TI UK Open Letter. This letter urges Alok Sharma to use Britain's presidency of the UN climate summit to both tackle the climate crisis and create a lasting legacy in the way COP processes are run. See here.
TI UK blogs.
- COP26: Action needed to address conflicts of interest undermining climate action. See here.
- Why big money can create big headaches for political parties. See here.
- Pandora Papers lay bare Britain’s role as facilitator of global corruption. See here.
- Pandora Papers: measures to end property secrecy should be tabled by Christmas. See here.
- Counter-Terrorism after 9/11. Listen here.
- Kickback: On the work of the ICIJ uncovering the Pandora Papers. Listen here.
- Bribe, Swindle or steal: the OECD Working Group on Bribery. Listen here.
- Crown Estate bought £67m London property from family of Azerbaijan ruler. See here.
- Panama Papers: An offshore data tsunami. See here.
- Billionaires and world leaders stashed vast amounts of money in secretive offshore systems. See here.
- Natwest Plc pleads guilty in criminal proceedings. See here.
- Human trafficking is world’s No. 1 criminal economy. See here.
- Too big to jail: why the crackdowns on dodgy finance have been so ineffective. See here.
- Austrian Chancellor Sebastian Kurz resigns amid corruption scandal. See here.
- The Pope’s corruption problems. See here.
Credit Suisse fined £147m in connection with Mozambique scandal. See here..
4. Jobs Board
- Junior Compliance Officer, Credit Suisse, London. See here.
- Senior Associate – Compliance Oversight Team, Financial Conduct Authority, London. See here.
- Investigator, National Crime Agency, London. See here.
5. One Minute Reads
New One Minute Reads have been uploaded to the TIPS website. Please do click the link to read more – perfect for your morning/evening WFH coffee break!
6. Support TI-UK directly by joining Friends of TI-UK!
As a friend of TI-UK you will receive updates from TI-UK directly about TI-UK's ground-breaking research & advocacy campaigns. Your subscription will also support TI-UK's ongoing work across the UK, Business, Health, Defence & Security initiatives. Find out more here.
7. A Focus on...
Associate Director, Forensic
Why did you get involved with TIPS?
I have long been interested in the fight against corruption – the result of a career spent investigating crime and time spent living in parts of the world where corruption is rife. The TIPS network appealed to me as a forum to meet like-minded individuals, where we could share expertise and increase our understanding of corruption-related issues. I believe that through such dialogue we can help to raise awareness of the problem of the corruption and develop solutions to it.
Please describe your experience as part of the TIPS Network.
My experience of the TIPS network has been an informative and engaging one! By far the most rewarding part of being a member of the TIPS network has been attending the monthly Virtual Talks. Not only have these provided insightful commentary on a variety of anti-corruption topics, but they have also given me the opportunity to meet other TIPS members who come from different and varied walks of life. It has been fascinating to learn about other peoples’ ideas and experiences in the anti-corruption space and I have really enjoyed the lively and interesting discussions which often ensue.
In addition, the TIPS “One-minute reads” and monthly newsletters have been a great way for me to stay up to date with key anti-corruption trends – I have found the latter particularly useful as a general resource for anti-corruption articles and events.
Connect with Tristan on LinkedIn.
The TIPS managing committee met on 4 October to discuss plans for the 2021/22 TIPS cycle