In the vast majority of 150 grand corruption cases, corporate vehicles were misused to conceal the identities of public officials involved in corruption. These reports underline both the significance of the problem and also the potential cost to development. Resource-rich countries in Africa and elsewhere have similar stories and comparable governance issues. Similarly, companies that extract natural resources also share some responsibility for transparent practices. The summit in Northern Ireland represents an important opportunity for G8 leaders to make meaningful progress in promoting transparency in the beneficial ownership of companies and extractive resources. Read more
