In case you missed it

New Zealand transparency, integrity and accountability

Stats NZ establishes Data Ethics Advisory Group The Data Ethics Advisory Group has been established by Stats NZ to bring in perspectives and expertise from outside government on the use of data.

New Zealand needs to stop multinational tax avoidance Press Release: Tax Justice scoop.co.nz.

A SeafoodSource podcast series: The business case for seafood transparency The demand for greater transparency is growing exponentially by the year in the seafood industry. And with the cost of implementing greater transparency in seafood supply chains steadily decreasing, the seafood marketplace can now realise the numerous benefits of implementing efforts at transparency, including economic efficiencies.

Tim Dower: We deserve to know more about dodgy diplomat case The case of the diplomat caught trying to bring in $300,000 in cash…what was the purpose of this money, and where, or to whom, was it intended to go? Something smells really bad here. I believe we deserve to know a lot more about this.

Auckland Council worker charged with taking bribes for IT contract A former Auckland Council worker took bribes in exchange for awarding a contract worth over $150,000, a court has heard.

Holding the government to account improves governance Indian Newslink Lecture was the ninth of its kind. The series was formerly known as the Sir Anand Satyanand Lecture.The event this year was the first of the rebranded lecture series and therefore, the first one where the welcome address was not delivered by Sir Anand.

Forex broker Russell Maher pleads guilty to fraud A foreign exchange broker who used forged documents to disguise his company’s financial status has pleaded guilty to fraud.

Name suppression declined in Auckland Council bribery case The name of one of the men facing bribery charges brought by the Serious Fraud Office can now be revealed after his request for name suppression was declined.

Ponzi scheme operator Kelvin Wood jailed for six years A foreign exchange broker who defrauded his clients of more than $7 million has been sentenced to six years and three months’ imprisonment and a minimum period of imprisonment of two years and 11 months.

Kiwi Andrew Pearse admits receiving millions of dollars from Credit Suisse loan fraud, reports say A New Zealand-born ex-banker has pleaded guilty to a fraud charge relating to a multi-billion loan scheme that nearly sent Mozambique bust, international media reports say.

Banking and Finance

BNZ knew it was charging too much for KiwiSaver, but didn’t cut fees for nearly a year BNZ continued to charge its Kiwisaver customers millions in unnecessary fees for months after its own chief executive identified it should be cutting costs and improving performance

Westpac agrees how it will refund $7m to customers Westpac has formally agreed on the steps it will take to refund fees to 93,000 customers being overcharged $7 million

ANZ loses the Key to transparency How ANZ Bank fought for more than three years to keep its role in New Zealand’s biggest Ponzi scheme quiet, and stop a regulator telling out-of-pocket investors the details.

Financial watchdog says new banking laws needed to protect customers Chief financial watchdog Rob Everett says laws must be passed to regulate banks’ treatment of customers because “bad things happen” when banks are not regulated.

Exposing the banks: the journalist who sparked a royal commission The story of Adele Ferguson is the journalist whose work was instrumental in bringing about the Royal Commission into the Australia’s banks and financial institutions. (podcast)

FISA

Insurers’ complacency over misconduct is ‘hard to comprehend’ – FMA The Financial Markets Authority (FMA) has said that the complacency of New Zealand banks and insurers in the face of Australian inquiry into misconduct was “frustrating” and “hard to comprehend.”

Banks, insurers’ complacency ‘hard to comprehend’ – FMA The complacency of the New Zealand banking and life insurance sectors in the face of the Australian inquiry into financial services misconduct was “frustrating” and “difficult to comprehend,” the chief executive of the Financial Market Authority, Rob Everett, said today.

Sustainable Development

NZ’s first SDG People’s Report launched A group of organisations launched New Zealand’s first People’s Report on the 2030 Agenda and Sustainable Development Goals (SDGs) this week at Victoria University of Wellington. The report is hosted at www.sdg.org.nz/peoples-report. scoop.co.nz

Why sources matter in a climate of ignorance Joel Rindelaub explains why it’s so important for those weighing on climate science to be transparent about their funding sources and conflicts of interest. 

NZ turns in development report card to UN, emphasising wellbeing framework New Zealand has returned its first sustainable development report card to the United Nations, with a huge emphasis on the Government’s wellbeing framework

International

South Korea’s FSS launches special judicial police South Korea’s Financial Supervisory Service (FSS) has launched a “special judicial police” with investigative power to deal with unfair practices in the financial market

Mauritius Leaks New leak reveals how multinational companies used Mauritius to avoid taxes in countries in Africa, Asia, the Middle East and the Americas. International Consortium of Investigative Journalists

The International Consortium of Investigative Journalists Newsletter Including “Mauritius Leaks: Luxury hotels lavish guests while depriving tax collectors”

Four anti-corruption takeaways from the 2019 G20 Summit Transparency International – Voices for Transparency

Transparency International

25 corruption scandals that shook the world We compiled a list of some of the biggest corruption scandals over the last 25 years that inspired widespread public condemnation, toppled governments and sent people to prison.

Where are Africa’s billions? Foreign companies and financial centres aiding corruption in Africa

SDG 16 is the key to the 2030 Agenda “Whether the focus is ending hunger and poverty, ensuring access to health, education, and clean water for all, or protecting marine environments and combating climate change, fighting corruption is an essential pre-requisite for advancing the 2030 Agenda,” said Delia Ferreira Rubio, Chair of Transparency International.

One in four people in Africa pay bribes to access services, survey says Corruption disproportionately affects the poor and young. The tenth edition of Global Corruption Barometer (GCB) – Africa

Transparency Times reprints

Never a better time for Good Governance “As Warren Buffet says, it takes years to build a reputation and 20 minutes to lose it. Over the last month, the ANZ’s reputation has been severely tarnished.” Those were the comments of Suzanne Snively, Chair of the Wellington-based Transparency International New Zealand Inc in the Leader in Transparency Times (July 2019). Please read more under Businesslink.

ANZ demonstrates poor tone at the top Indian Newslink

Audit firms disclosure should be made mandatory Indian Newslink

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