Money laundering is a cross-border problem: the recovery of corrupt assets requires international coordination and information sharing.
The International Anti-Corruption Coordination Centre will work closely with international and national organisations to support countries that are suffering from corruption at the highest levels in their institutions.
WHAT HAPPENED AT THE SUMMIT
At the Anti-Corruption Summit the UK committed to “work with others to establish an International Anti-Corruption Coordination Centre and will provide people and resources to support it”.
Thirteen other countries also committed to help with the establishment of the Centre. The communique says:
“We will strengthen cross-border cooperation and information sharing between law enforcement agencies, anti-corruption bodies, integrity offices of international organisations, prosecutors and, where appropriate, judges or judicial officers, and will support developing countries’ ability to investigate, prosecute and collaborate with international partners. We welcome the proposal to establish an International Anti-Corruption Coordination Centre by interested countries, which will work closely with relevant international and national organisations, including FIUs, and support countries that have suffered from grand corruption.”
WHAT HAS HAPPENED SINCE?
The International Anti-Corruption Coordination Centre (IACCC) was established in July 2017. The UK’s National Crime Agency will host the IACCC until 2021.
According to the UK Anti-Corruption Strategy: Year 1 Update, as a result of the work being done with nine agencies from different jurisdictions in the IACCC, “11 investigations have been progressed and, in one case, supported the arrest of a senior overseas government official suspected of corruption”.
The UK Anti-Corruption Strategy Year 2 Update states that the IACCC has now “worked on 27 cases and supported a number of high-profile arrests involving politicians and public officials across the world.”