International Anti-Corruption Conference (IACC) 2018: Screening Hidden Beneficial Owners to Combat Corruption in Oil, Gas and Mining
22 October 2018
In this session, the Extractive Industries Transparency Initiative, NRGI and Transparency International’s global Mining for Sustainable Development (M4SD) Programme join forces to present the latest research and tools on uncovering and tackling corruption risks using beneficial ownership disclosures and screening mechanisms.
Established in 1983, the International Anti-Corruption Conference (@IACCseries) takes place usually every two years in a different region of the world, and hosts from 800 to 2,000 participants from over 135 countries worldwide. Staff of the Natural Resource Governance Institute will participate in the below session of this year's edition in Copenhagen, Denmark. Follow the conversation around this event using #18IACC.
Experience has shown that the extractive industries are particularly prone to corruption, given the large revenues and associated risks. Developing countries lose significant economic resources each year as a result of corrupt or illegal deals involving anonymous companies. A recent review of over 100 oil, gas and mining corruption cases found that over half involved companies with problematic hidden beneficial owners.
In this session, the Extractive Industries Transparency Initiative (EITI), NRGI and Transparency International’s global Mining for Sustainable Development (M4SD) Program join forces to present the latest research and tools on uncovering and tackling corruption risks using beneficial ownership disclosures and screening mechanisms.
You’ll also hear from practitioners in industry, government and civil society, who will talk about their approaches and experiences using beneficial ownership data - why they use it, how they use it, and what they think needs to change for such information to contribute to more effective anti-corruption efforts.
There will be plenty of time for discussion and to share experiences, lessons and advice in this hands-on and dynamic workshop as we build a more complete picture of how to tackle problematic hidden extractive company ownership and combat corruption in this major industry.