DOES CORRUPTION LIVE NEXT DOOR? · live next door? grand corruption. the abuse of high-level power...
Transcript of DOES CORRUPTION LIVE NEXT DOOR? · live next door? grand corruption. the abuse of high-level power...
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*Fotografias: REUTERS / Ueslei Marcelino - REUTERS / Bruno Kelly - REUTERS / Ueslei Marcelino - REUTERS / Paulo Whitaker
DOES CORRUPTIONLIVE NEXT DOOR?
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GRAND CORRUPTION
THE ABUSE OF HIGH-LEVEL POWER THAT BENEFITS THE FEW AT THE EXPENSE OF THE
MANY, AND CAUSES SERIOUS AND WIDESPREAD HARM TO INDIVIDUALS AND SOCIETY. IT OFTEN
GOES UNPUNISHEDSOURCE: ANTI-CORRUPTION GLOSSARY (TRANSPARENCY.ORG)
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WHY SO ATTRACTIVE TO MONEY LAUNDERERS?
ONE SINGLE OPERATION/FEW OPERATIONS: LARGE AMOUNT OF MONEY
PRICE: HARD TO PRECISE
SAFE INVESTMENT
ADDITIONAL FUTURE DIVIDENDS
REAL ESTATE SECTOR
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NEARLY HALF OF THE 100 MOST VALUABLE RESIDENTIAL PROPERTIES IN
GREATER VANCOUVER ARE HELD THROUGH STRUCTURES THAT HIDE THEIR
BENEFICIAL OWNERSSOURCE: TI CANADA
REAL ESTATE SECTOR
TRANSPARENCY INTERNATIONAL CANADA
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REAL ESTATE SECTOR
36,342 LONDON PROPERTIES ARE HELD BY OFFSHORE HAVEN COMPANIES
OVER 75% OF THE PROPERTIES UNDER CRIMINAL INVESTIGATION USE OFFSHORE
CORPORATE SECRECYSOURCE: TI UK
TRANSPARENCY INTERNATIONAL UNITED KINGDOM
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FORMER PETROBRASEXECUTIVE NESTOR CERVERÓ: PENTHOUSE IN IPANEMA REGISTERED IN THE NAME OF A URUGUAYAN LEGAL PERSON
REAL ESTATE SECTOR
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SÃO PAULO: DOES CORRUPTION LIVE NEXT DOOR?
TRANSPARÊNCIA INTERNACIONAL BRASIL:RESEARCH USING DATA ON REAL ESTATE PROPERTY:
CITY OF SÃO PAULO
CITY GOVERNMENT DISCLOSED TAX COLLECTIONDATA ON REAL ESTATE PROPERTY IN AN OPEN
DATA FORMAT FOLLOWING A RECOMMENDATIONFROM TRANSPARENCY INTERNATIONAL
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236 LEGAL PERSONS REGISTERED IN THE STATE OF SÃO PAULO CONTROLLED BY OFFSHORE COMPANIES OWN
3.452 REAL ESTATE PROPERTY IN THE CITY CAPITAL
2.7 BILLION USD (2.2 BILLION USD: COMERCIAL UNITS)
7,400 FOOTBALL FIELDS
SÃO PAULO: DOES CORRUPTION LIVE NEXT DOOR?
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IMPORTANT IMPACT OVER CITY PLANNING
• ARTIFICIALLY RAISING COSTS OF REAL ESTATE MARKET, THE PHENOMENON AFFECTS THE RIGHT OF ADEQUATE HOUSING FOR LARGE PARTS OF THE POPULATION
• BY PUSHING PEOPLE TO LIVE FAR FROM CITY CENTER, IT RAISES THE COSTS OF URBAN MOBILITY (RAISING POLLUTION LEVELS, STRESS LEVELS ETC)
EXTERNALITIES/CONSEQUENCES
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RECOMMENDATIONS
GOVERNMENTS SHOULD• COLLECT AND PUBLISH BENEFICIAL OWNERSHIP INFORMATION IN OPEN
DATA FORMAT
• CHANGE PROCUREMENT LAW TO INCLUDE AN OBLIGATION FOR BIDDERS TO PROVIDE DATA ON COMPANY FORMATION AND BENEFICIAL OWNERSHIP
• FOLLOW SÃO PAULO EXAMPLE AND PUBLISH DATA CONCERNING REAL ESTATE PROPERTY WITHIN THEIR BORDERS WHICH INCLUDES BENEFICIAL OWNERSHIP INFORMATION OF ALL COMPANIES, WHETHER INCORPORATED DOMESTICALLY OR OVERSEAS (THIS REQUIREMENT SHOULD BE APPLIED RETROACTIVELY)
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REPORT
FULL REPORT AVAILABLE HERE
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Thank You