Transparency International Australia encourages the independent review panel to give consideration to measures which will strengthen Australia’s integrity framework and establish stronger institutions and functions to detect, prevent and investigate bribery, corruption and fraud, in a coordinated and cohesive manner.
As the Report to the Nations 2018 Global Study on Occupational Fraud and Abuse noted “Corruption represents one of the most significant fraud risks for organizations in many industries and regions. Understanding the specific factors involved in corruption schemes can help organizations effectively prevent, detect, and investigate them”.
Recommendations.
- Establish a broad based federal anti-corruption agency with both investigative and preventative powers as part of an enhanced multi-agency approach to prevent, detect and investigate cases of bribery and corruption, as well as breaches of the APS Code of Conduct.
- Develop an integrity and corruption prevention strategic plan and framework with appropriate oversight, monitoring and coordination.
- Allocate adequate resources to agencies tasked with the prevention, detection, investigation and prosecution of corruption and fraud cases.
- Amend the Anti-Money Laundering and Counter Terrorism Financing Act 2006, to require Designated NonFinancial Businesses and Professions to submit Suspicious transaction reports.
- Establish a public register of beneficial owners, including trusts, to help understand who the real beneficiary of a property and business transaction is, including politically exposed persons and their associates.
- Address the mining approvals corruption risk issues, particularly strengthened due diligence, lobbying and industry influence, and transparency of project agreement-making terms.
- Strengthen procurement and contracting through great alignment with the Open Contract Data Standard and improved and transparent due diligence into tender applicants.
- Establish a transparent debarment regime which would allow authorities to prevent individuals and companies who have breached fraud, foreign bribery and anti-money laundering laws from tendering for and winning government-funded work.