Arguments: Corruption as a Threat to the Rule of Law
Erica Razook of the Open Society Justice Initiative appeared before the Parliamentary Assembly of the Council of Europe on March 19, 2013, and argued that corporate corruption was undermining the rule of law in Europe and around the world.
Her testimony, entitled “Corruption as a threat to the rule of law: Abuse of the corporate entity, secrecy jurisdiction arbitrage, and under-regulated financial services,” highlighted weak regulation issues in Ukraine, Switzerland and the United Kingdom. She argued:
“When left unaddressed, large-scale money laundering and related corrupt acts through pristine appearing financial instruments and institutions undermine the rule of law and respect for human rights, by allowing certain wealthy and politically powerful elites to take and self-deal amongst themselves—to the detriment of the people—at will and often with impunity.”
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