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National Actions to Help Professional Services Ensure Financial System Integrity

Protecting the integrity of the financial system is essential to national security, democratic peace, development, and controlling corruption. Ensuring that rich-country financial systems do not continue to be the destination of choice for dictators and organized crime is an essential challenge for our time. Money from developing countries is illegally siphoned into wealthy countries where “enablers”—providers or professional services—facilitate money laundering through financial secrecy. This has the effect of lowering the tax base in developing countries, emboldening repressive regimes, and encouraging strategic corruption. In the worst such cases, it also facilitates international aggression.

Ensuring that gatekeepers of the global financial system do not become enablers of corruption is central to the objectives of the Summit for Democracy (S4D), which includes strengthening democracy and countering authoritarianism, fighting corruption, and promoting respect for human rights. This note seeks to inform members of the Financial Transparency and Integrity Cohort on how they can take action to ensure that professional services support growth and integrity.


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