Tax: Joining forces to fight financial crime and illicit activities

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Financial crimes, including corruption, tax fraud and money laundering, are a threat to all countries, both developing and developed. The sums are vast. Estimates have put total proceeds from all illicit activities at 3.6% of global GDP. Recognizing the importance of the issue, G20 leaders and Finance Ministers have consistently urged all jurisdictions to work together to control this threat, to adhere to the international tax, prudential and anti-money laundering standards and have mandated OECD to help improve inter-agency co-operation in the fight against illicit activities.

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