Subscribe free to our newsletters via your
. Space Travel News .




TRADE WARS
TED backs unmasking bad actors behind shell firms
by Staff Writers
San Francisco (AFP) March 19, 2014


TED on Tuesday threw its weight behind a quest to unmask evil doers who use "shell companies" to hide illicit wealth or fund foul deeds.

Global Witness co-founder Charmian Gooch enlisted the TED community with the revelation of a "wish" that accompanies a million-dollar prize awarded to the anti-corruption activist by the prestigious group known for technology titans, political leaders, celebrities and others with clout and resources.

"My wish is for us to know who owns and controls companies so they can no longer be used anonymously," Gooch said during an interview at the gathering.

"Let's launch a new era of openness in business. It sounds ambitious, but it is doable."

Global Witness investigates and campaigns to bring about change for the better by exposing economic networks behind conflict, corruption and environmental destruction.

TED curator Chris Anderson called Gooch a "hero" who "is coming to TED with a real powerful call to action."

No laws in any countries require companies to list who their owners are and then make that information public, Gooch lamented.

- Scandal in plain sight -

Meanwhile, nefarious characters ranging from corrupt heads of state to drug lords can hide or move assets through anonymous shell companies in what Gooch referred to as "an epic scandal hidden in plain sight."

Shell companies with hidden owners are used to sidestep government sanctions or plunder natural resources from poor communities, according to Global Witness.

Gooch said the British government is already on board with her goal, and that the European Parliament is tuning into the idea. The United States is the next big target for the campaign.

"People like to think of anonymous companies as these sunny offshore tax havens," Gooch said.

"Actually, the big problem is onshore in the US and the UK."

US senators backing legislation to combat corporate secrecy praised the TED Prize going to Gooch and her wish.

"Today, money launderers, arms dealers, drug lords, terrorists and tax evaders are too often able to conceal their misconduct behind a wall of corporate secrecy," Senator Carl Levin, a Michigan Democrat, said in a release.

Levin and Republican Senator Chuck Grassley of Iowa introduced the Incorporation Transparency and Law Enforcement Assistance Act to combat transnational crime by requiring incorporation applications to include lists of true owners of companies.

The Global Witness wish and the million dollars infused into the group's campaign should add momentum a bill that already has backing from police agencies, anti-corruption groups, human rights organizers, business groups and labor organizations, according to Levin.

While a senator, US President Barack Obama co-sponsored a version of the legislation.

"Prosecutors of financial crimes follow the money," Grassley said in a release.

"It's hard for them to do that when criminals are able to exploit corporate transparency laws."

The prize money will fund campaign operations by Global Witness and its 80-person team, said Gooch, who hoped that technology wizards in the TED community would help create a prototype online registry that could serve as a model for countries.

The campaign is even tapping into online social networking by urging people to "like" and End Anonymous Companies page at Facebook.

"We would really like for business leaders in the tech community to get behind this wish," Gooch said.

"The TED community is the coolest on the planet, so this is amazing for us."

The list of TED Prize winners includes U2 frontman and ONE campaign champion Bono; ocean defender Sylvia Earle, and former US President Bill Clinton.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
Jan-Feb foreign direct investment in China rises 10.4%
Beijing (AFP) March 18, 2014
Foreign direct investment (FDI) into China increased 10.4 percent year on year in the first two months of 2014, the government said Tuesday, while the country's outbound investment slumped. FDI, which excludes investment in financial sectors, totalled $19.31 billion cumulatively in January and February, the commerce ministry said in a statement. Foreign investors "remained confident in ... read more


TRADE WARS
ASTRA 5B delivered for integration on Ariane 5 launcher

Launcher assembly begins for Ariane 5 Flight VA218

ILS And ISS Reshetnev Announce Proton Dual Launch Agreement

Arianespace in spotlight at Satellite 2014: expects another record-breaking year

TRADE WARS
NASA Orbiter Safe After Unplanned Computer Swap

Mars name-a-crater scheme runs into trouble

Concerns and Considerations with the Naming of Mars Craters

Lava floods the ancient plains of Mars

TRADE WARS
Spacesuits And Moon Notes Among The Stars At Bonhams NYC Auction

Russia to launch three lunar rovers from 2016 to 2019

Control circuit malfunction troubles China's Yutu

China's Lunar Lander Still Operational

TRADE WARS
Planet X myth debunked

WISE Finds Thousands Of New Stars But No Planet X

New Horizons Reaches the Final 4 AU

Thanks America, New Horizons Ahead

TRADE WARS
UK joins the planet hunt with Europe's PLATO mission

X-ray laser FLASH spies deep into giant gas planets

Crashing Comets Explain Surprise Gas Clump Around Young Star

Every red dwarf star has at least one planet

TRADE WARS
NASA reveals hovering prototype planetary lander Morpheus

MIT team proposes storing extra rocket fuel in space for future missions

Boosters for Orion's Launch Vehicle Arrive to Cape Canaveral

NASA Tests New Robotic Refueling Technologies

TRADE WARS
"Space Odyssey": China's aspiration in future space exploration

China to launch first "space shuttle bus" this year

China expects to launch cargo ship into space around 2016

China capable of exploring Mars

TRADE WARS
ESO VLT Shows Comet Churyumov-Gerasimenko Brighter Than Expected

Be an Asteroid Hunter in NASA's First Asteroid Grand Challenge Contest Series

Hubble Telescope Witnesses Asteroid's Mysterious Disintegration

Silently and patiently streaking through the main asteroid belt




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.