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Boosting business integrity in Asia: the power of public-private cooperation
A joint blog by Vanessa Hans, Director, Private Sector, Basel Institute on Governance, and Elodie Beth, Senior Manager, Anti-corruption, Global Relations, Directorate for Financial and Enterprise Affairs, Organisation for Economic Co-operation and Development OECD . The post is also published on the OECD website. Clean, ethical business practices build trust, attract investors and create healthier markets. For the OECD, business integrity is key to levelling the global playing field and enhancing national competitiveness. Amid global regulatory uncertainty, countries like Indonesia and Thailand are stepping up. Both are taking meaningful steps to strengthen their anti-corruption frameworks as they move towards joining the OECD Anti-Bribery Convention – a critical milestone and prerequisite for future OECD membership. Their actions reflect a broader shift: governments across Asia increasingly recognise that corruption undermines competitiveness, deters investment and jeopardises sustainable, long-term growth. A 2024 regional study confirms it: Asian countries that have improved their control of corruption are far more likely to attract foreign direct investment and foster long-term growth. Regional co-operation and the role of Collective Action Recognising that no single actor can tackle corruption alone, public- and private-sector actors are joining forces at the regional level through the Anti-Corruption Initiative for Asia and the Pacific ACI , co-led by the OECD and Asian Development Bank. The ACI, jointly supported by the OECD and the Asian Development Bank, launched a business integrity workstream in 2019, initiated by the Government of Viet Nam as the host country. Last year, the Government of Bhutan held business integrity seminars, and in 2025, Indonesia is expected to host the Regional ACI Conference. These Collective Action efforts are underpinned by the OECD’s 2021 Anti-Bribery Recommendation, the first global standard to formally recognise the role of Collective Action and partnerships between the public and private sectors against foreign bribery. Spotlight on innovation: Promising business integrity initiatives across the region From risk mapping to regulatory reform, here are standout examples of how countries are taking action through public-private initiatives: Australia: The Bribery Prevention Network brings together business, civil society, academia and government to help small- and medium-sized enterprises prevent, detect and address bribery and corruption while promoting a culture of compliance. India: The Maritime Anti-Corruption Network, a global initiative, set up a HelpDesk in India serving as a real-time resolution mechanism that bridges the gap between the shipping industry and local authorities. It collects anonymous reports by shipping companies of bribe solicitation in ports and uses this data to map out risk areas and tailor its strategies to engage with local government authorities. Hong Kong, China: The Independent Commission Against Corruption is engaged in several sector-specific Collective Action initiatives, particularly in construction and banking. It collaborates with chambers of commerce and industry associations such as the Construction Industry Council. Thailand: In 2024, the Thai government amended its procurement law to recognise certification by the Thai Collective Action Against Corruption CAC initiative as proof of a company’s anti-corruption controls. This enables CAC-certified firms to qualify for public contracts above a certain threshold, incentivising private-sector compliance. These experiences illustrate how government authorities are increasingly participating in Collective Action initiatives to enhance their awareness-raising efforts, gather better evidence and develop tailored solutions that reflect the realities of different sectors and companies, including small and medium-sized enterprises. By engaging in such initiatives, government authorities can increase their overall outreach, lend greater legitimacy to private-sector anti-corruption efforts and effectively promote the adoption of business integrity policies. Building a regional community of practice To sustain momentum, the OECD and the Basel Institute on Governance have launched a regional community of practice. In 2023, the Asia-Pacific Collective Action Forum was held in Manila, Philippines, bringing together 50+ practitioners from diverse stakeholder groups across the region. The Asia-Pacific Anti-Corruption Collective Action Award recognised the growing number of initiatives in the region and celebrated their achievements. The Thai CAC received the inaugural award. Encouraged by the Forum’s success, participants expressed strong interest in sustaining and deepening exchanges among practitioners. A follow-up Collective Action workshop was held in 2024 in Bangkok, in collaboration with the Thai CAC. The workshop further strengthened the emerging community of practice and provided a valuable platform for peer learning. This regional community has created a meaningful space for peer learning and experience sharing. It has also contributed to greater alignment with international standards. Looking ahead: co-operation as the path forward These developments show that business integrity reforms are not only possible but already underway. In 2025, the OECD will release a policy paper examining the link between business integrity frameworks and competitiveness. The paper underscores how public-private cooperation is not only advancing reform, but also makes countries more attractive to investment and resilient to shocks. Although still in their early stages, the emergence of Collective Action and partnerships between the public and private sectors in Asia offers a promising path forward to advance integrity. Sustained cooperation will be crucial to fully realising the potential of these initiatives. Learn more and get engaged OECD work on fighting foreign bribery OECD and ADB Anti-Corruption Initiative for Asia and the Pacific B20 Collective Action Hub by the Basel Institute on Governance Working Paper 48: A collaborative approach to improve business integrity in ASEAN by Lucie Binder, Vanessa Hans and Anna Stransky, Basel Institute on Governance Working Paper 56: Anti-corruption Collective Action: A typology for a new era by Scarlet Wannenwetsch, Basel Institute on Governance
Basel Institute to support B20 India as Network and Knowledge Partner
The Basel Institute on Governance is delighted to have been selected by the B20 India as a Network and Knowledge Partner. For the 12th consecutive year, the Basel Institute on Governance will bring its expertise in Collective Action, integrity and anti-corruption compliance to support the B20 process in shaping an impactful and business-oriented response. This year, in view of the growing significance for the private sector to adhere to Environment, Social and Governance ESG standards, the topic of integrity and compliance will be integrated into the Action Council ESG in Business. “This year's B20 ESG Business Action Council offers a unique opportunity to break down silos and trigger the power of Collective Action to meet ESG standards and demands. It is an honour to continue to contribute to the B20 process under the leadership of the 2023 Indian B20 Presidency.” – Scarlet Wannenwetsch, Collective Action Specialist To address corruption challenges and raise standards of integrity, compliance and fair competition in business, the Basel Institute on Governance has been promoting Collective Action as an effective tool since its foundation in 2003. Collective Action brings together the business sector, policymakers, civil society, and anti-corruption experts to shape the discussion and support the development of informed and practical recommendations. The B20 and Collective Action The B20 has consistently recognised the practicality and adaptability of Collective Action as a means of involving the private sector combating corruption. Already 10 years ago, following a mandate from the B20, the Basel Institute launched the B20 Collective Action Hub. This hub is an online resource centre which offers a range of anti-corruption publications and tools, plus a database of anti-corruption Collective Action initiatives and projects around the world. It is supported by the Siemens Integrity Initiative. More recently, at last year’s B20 Indonesia, Collective Action was selected as one of the four recommendations to alleviate integrity risks in the Policy Paper of the B20 Indonesia Integrity and Compliance Task Force. Gemma Aiolfi and Scarlet Wannenwetsch represented the Basel Institute as Co-Chair and Deputy Co-Chair of the Task Force. Learn more This year, we look forward to continuing to support the B20 anti-corruption work and the translation of its recommendations into action. Learn more about the B20 process in relation to integrity and anti-corruption. Keep up to date with developments by following B20India as well as our Collective Action team on Twitter @FightBribery , LinkedIn Collective Action at the Basel Institute , and by subscribing to our Collective Action Quarterly Update.
Centre of Excellence for Governance, Ethics and Transparency (CEGET)
Global Compact Network India GCNI established the Centre of Excellence for Governance, Ethics and Transparency CEGET in March 2015, with the overall goal of developing a premier knowledge repository that ‘conducts innovative action research and training, provides a platform for dialogue and communication and facilitates systematic policy initiatives for strengthening transparency and ethics in business.’ CEGET has spearheaded two key initiatives - ‘Governance for Smart Cities’ and ‘Business inputs for Public Procurement Bill 2012.’ 1. Governance for Smart Cities ------------------------------ In June 2015 Government of India launched the ‘100 Smart Cities’ Project, the key objective of which was to improve the infrastructure of the identified cities to efficiently handle and govern the increasing urban population. The significant differentiator of the Project is that instead of a top-down approach, citizens are encouraged to participate and contribute towards the vision development of their cities. GCNI CEGET developed a pilot intervention for promoting the business case for transparency and anti-corruption as an integral part of the Smart Cities Project. Under this pilot plan, between December, 2015 to February, 2016, GCNI-CEGET facilitated five consultations in the cities of Visakhapatnam, Lucknow, Pune, Bhubaneswar and Ranchi. On April 12, 2016 a ‘Conclave for Governance of Smart Cities: From Ambition to Action’ was held at Hotel Leela Palace, where participants from these cities, experts and business stakeholders were provided a platform to chart the future course of work in this initiative. GCNI CEGET, in partnership with its Knowledge partners - ‘Legasis Services Private Limited’ and ‘VMC Management Consulting Private Limited’, has developed tools for compliance and Model Public Private Partnerships framework, which were launched at the event. These tools have been developed in response to the city specific needs, based on recommendations received from each city event. At the Conclave, CEGET also launched its website www.ceget.in, which would act as a knowledge hub for corporations, PSUs, government, civil society organisations and other stakeholders on issues of governance, ethics and transparency. In the second phase of the Governance for Smart Cities initiative, CEGET is in consultation with three city special purpose vehicles SPVs , to implement the tools that were showcased at the Conclave. The first major breakthrough successfully transpired in Pune, with the Pune Smart City Development Corporation Limited PSCDCL entering into a five-year Memorandum of Understanding with GCNI for providing advisory service on governance and compliance to the SPV created for the purpose of the Project, inclusive of a customised IT solution for governance and compliance and Advisory on Public Private Partnership. The MoU is effective from 1st July 2016 to 20th June 2021. This non-commercial MoU will ensure that PSCDCL operates in an effective and efficient manner, and attracts best investment to realise its mission. 2\. Business Inputs for the Public Procurement Bill, 2012 --------------------------------------------------------- Observing the revival of interest in the subject of public procurement by present Government, manifested by the Finance Minister’s reference in his Budget Speech of 2015 to a public procurement law on the UNCITRAL model to check “Malfeasance in public procurement”, followed by public consultations for introduction of changes in the Public Procurement Bill, 2012, CEGET developed an initiative for garnering business inputs for the PPB, 2012. Prior to this, in April 2012, GCNI had organised a National Consultation on Transparency and Anti-Corruption Measures in Procurement in India, in partnership with United Nations Office of Drug and Crime UNODC . At this event GCNI had facilitated the process of knowledge–sharing and supporting the work of businesses in creating transparent and ethical procurement practices in a proactive manner. Presently GCNI CEGET’s Working Paper Business Recommendations for Public Procurement Legislation in India focuses on seven propositions around – Coverage, Competition, Transparency, Market Access, Grievance Review and Redressal, Probity and Sustainable Public Procurement. This paper was deliberated on at a Consultation at Hotel Taj Palace, New Delhi on June 6, 2016 and feedback received from experts and business stakeholders assisted in in developing a concrete list of business recommendations that would be shared with the government. These recommendations are to be read in sync with the working paper as they complement each other. CEGET is in the process of developing policy solutions, based on these recommendations as well as industry good practices in procurement, and share it with appropriate authorities. We welcome suggestions from readers.
Financial Investigations and Asset Recovery training programmes in India
Experts from ICAR delivered two back-to-back 5-day country specific training programmes in financial investigations and asset recovery in New Delhi, India, from 29 February to 11 March 2016. These workshops were conducted as part of a technical assistance arrangement between the UK Foreign & Commonwealth Office in India and the Indian Ministry of Finance Enforcement Directorate MOF-ED . The aim of the training was to enhance the technical skills of the Indian MOF-ED, the country's sole agency entrusted with the investigation and prosecution of money laundering offences and attachment/confiscation of the proceeds of crime, to investigate financial crimes with international links. The training also aimed to enhance the ability of investigators to draft and handle international Mutual Legal Assistance requests, thus increasing their capacity to trace, freeze and recover stolen assets. It is hoped that this support may assist the MOF-ED in bringing current investigations of a number of cases with a UK link to a successful conclusion, including the forfeiture of criminal assets. The feedback provided by participants at the conclusion of the training was positive throughout. One participant stated that the training course was useful for his work and that "\ i\ t was an excellent experience interacting with international experts in the field". Another participant said: "It is the best course of my whole service tenure."
New partnerships with India, Paraguay and Peru for training in financial investigation and asset recovery
During 2016, ICAR will be providing capacity-building workshops on financial investigation and asset recovery in India, Paraguay and Peru. In India, ICAR will assist the country’s anti-money laundering investigating and prosecuting agency, the Ministry of Finance Enforcement Directorate ED , to increase its capability to investigate financial crime with international links. In partnership with the UK Foreign & Commonwealth Office, ICAR is planning a financial investigation training for 50 ED investigators over a two-week period. In Paraguay, ICAR will conduct a workshop on investigating and prosecuting complex including international corruption and money laundering cases. The training, which is funded with ICAR core funding, is implemented in partnership with Paraguay's Ministry of the Attorney General and will involve participants from a multitude of other relevant national stakeholders. In Peru – where the Basel Institute recently established its first country office – ICAR’s training team will be involved in strengthening the capacity of the Public Prosecutor to prevent and investigate acts of corruption in public finance at subnational level and recover misappropriated public assets. This training is part of a four-year program, funded by SECO and implemented by the Basel Institute, in support of strengthening public financial management and anti-corruption capacities. In order to design and tailor the training programmes to the specific needs of the respective agencies, ICAR’s training team has conducted scoping missions to the three countries in November 2015.
Publications
Working Paper 38: Cryptocurrencies in Asia and beyond: law, regulation and enforcement
The crypto industry has exploded in recent years, and authorities in different countries have been reacting in very different ways. Some have banned cryptocurrencies, while others are embracing them to varying degrees. Some are working hard to align their anti-money laundering regulations with FATF standards, while others are turning a blind eye. A few countries have confiscated huge quantities of crypto assets linked to crime and money laundering. Others are at square one in terms of enforcement, risking becoming a hub for crypto crime and money laundering and posing a serious vulnerability in the world’s financial system.
This Working Paper draws on a detailed analysis of how selected countries are addressing legal, regulatory and enforcement issues around cryptocurrencies and other virtual assets. The analysis is focused on Asia, but set in the context of global trends in crypto law, regulation and enforcement. It explores critical questions that will shape policies around virtual assets at the corporate, national and international levels:
- What is working in terms of crypto regulation and enforcement?
- What are the implications of different policy choices on crypto assets – for the industry, for the countries themselves and for global financial integrity as a whole?
- What would the crypto wave possibly bring next?
The Paper also highlights broader developments needed to bring light and clarity to laws, policies and practices around the crypto industry, such as collaboration between both market players and governments.
Jurisdictions touched upon in this Working Paper alphabetically include Bhutan, Central African Republic, El Salvador, Hong Kong SAR, India, Indonesia, Japan, Kazakhstan, Malaysia, Myanmar, Russia, Singapore, South Korea, the Philippines, the People’s Republic of China, Thailand, Ukraine and Vietnam.
A list of key terms and abbreviations have been prepared in the Annex to this Working Paper for the readers’ easy reference.
About this Working Paper
This Working Paper is a collaboration between Dorothy Siron, Co-Managing Partner, Zhong Lun Law Firm LLP and Federico Paesano, Senior Financial Investigation Specialist, Basel Institute on Governance.
Dorothy Siron provided the bulk of the analysis and discussion, while Federico Paesano provided a selection of case studies and was co-author of the seven recommendations contained in section 4. The collaboration was facilitated by the International Academy of Financial Crime Litigators, an independent, non-partisan global centre that shapes and advances financial crime litigation practices for the future.
The publication is part of the Basel Institute on Governance Working Paper Series, ISSN: 2624-9650. It is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY-NC-ND 4.0).
Suggested citation: Siron, Dorothy, and Federico Paesano. 2022. “Cryptocurrencies in Asia and beyond: law, regulation and enforcement.” Working Paper 38, Basel Institute on Governance. Available at: https://baselgovernance.org/publications/wp-38
Disclaimer: This Working Paper does not, and is not intended to, constitute and/or substitute legal or other professional advice. The content of this Working Paper is updated as of 4 May 2022 and is intended for general informational purposes only. No representations have been made as to its accuracy and completeness. You should seek independent legal or other professional advice before acting or relying on any of the information contained herein.
Infrastructure & Urban Development: Building Foundations for Transparency
This report from the World Economic Forum focuses on the second phase of the Partnering Against Corruption Initiative (PACI) project to address the needs of the infrastructure and urban development industries.
The report provides a solutions-based framework, a deep-dive at the state level in India and a diagnostic tool that can be replicated and enhanced. In addition, the report includes proposals and policy recommendations on processes and strategies to enhance transparency in the project pilot state of Maharashtra, India.
See also:
Business Case for Anticorruption in India: Principles, Economics and Application of Transparency Tools
This is the third and final publication of Global Compact Network India’s Collective Action Project. In it, UNGC companies and business entities share practical experiences as to how they have been investing in getting their processes and procedures in order, so that businesses could be free of corruption, ensuring transparency in their supply chains and procurement mechanism.
It quantifies the gains that a business accrues by implementing anti-graft policies in its operations, presenting for the first time examples on a business case for anticorruption from companies headquartered in an emerging market, in this case India.
Anti-Corruption Workshop on India: Summary
The World Economic Forum, in collaboration with the OECD, the United Nations Office on Drugs & Crime (UNODC), Transparency International and the United Nations Global Compact, organized an Anti-Corruption Workshop on India in New Delhi on 12 April 2013.
The workshop provided a unique opportunity for participants to engage with peers from around the world and across industries – in a non-attribution working environment – to address anticorruption challenges of mutual interest and to exchange views on the most important steps that business, government and civil society can take together to promote an action-oriented anti-corruption agenda. This publication provides a summary of the event.
Transparency for Inclusive Governance: An assessment of India
The euphoria of India as a regional power has been dented by talk of systemic corruption, poor public services, nagging problems of unemployment, illiteracy and poverty and demographic challenges.
Establishing a strong sense of credibility in government and the development of adequate capacity for enforcement must also be addressed to ensure the success of India’s efforts.
New initiatives in Collective aAtion and local networks of organizations can build trust and a stronger culture of accountability between business and government. This report highlights the tangible progress that has been made in this direction and develops a road map to a more transparent, inclusive and accountable environment.
Prepared by the Global Agenda Council on India, World Economic Forum, in collaboration with PwC.