Speaker A
Even when we've located properties made out of illegal money in Western capitals, we are finding so many legal and difficulty in trying to get that money back.
PM Imran Khan addresses corruption at the UN, highlighting challenges in recovering stolen wealth and the need for political will in rich countries.
Key Takeaways
- Corruption in developing countries leads to massive capital flight to rich countries.
- Rich countries lack political will to assist in recovering stolen assets.
- Poor countries are disadvantaged due to lack of legal and infrastructural resources.
- Offshore tax havens facilitate corruption and tax evasion.
- Stronger international cooperation is needed to treat stolen money as a serious crime.
Summary
- PM Imran Khan discusses difficulties in recovering illegally obtained money stashed in Western capitals.
- He points out the lack of political will in rich countries to help retrieve stolen assets from poor countries.
- Poor countries lack resources, legal expertise, and infrastructure to reclaim their stolen wealth.
- Corrupt elites in developing countries continue to siphon money abroad due to weak deterrents.
- Illicit money is often hidden in offshore accounts and expensive properties through companies.
- Aid from rich countries is minimal compared to the amount plundered and hidden offshore.
- He questions why tax havens still exist and why rich countries protect tax evaders.
- PM Khan compares stolen money to drug money and terror financing, emphasizing its deadly impact.
- He calls for treating money laundering from poor countries with the same urgency as other crimes.
- The speech concludes with a call for stronger political will to combat corruption globally.
Full Transcript — Download SRT & Markdown
Speaker A
And I'm afraid there is a lack of political will in the rich countries because they gain from it.
Speaker A
And the poor countries do not have the resources, we do not have the lawyers, we do not have the infrastructure abroad to actually retrieve that money.
Speaker A
And so, two things happen, not only are we deprived of the resources that belong to us, if we get them back, we will spend on our human beings.
Speaker A
But secondly, it is not a deterrent for corruption.
Speaker A
So the criminal ruling elites of the developing world keep taking money out of their poorer countries, and because there is not enough of a deterrent, they know that they can get away with it.
Speaker A
They all land up in these offshore accounts and these, they have, they get these companies and through companies they buy these expensive properties.
Speaker A
So, just to conclude, there has to be a political will in the richer countries, no matter what aid that goes from the richer countries to the poor countries is minuscule compared to the money that has been plundered from our countries and ends up in these offshore accounts.
Speaker A
I do not understand why in this day and age you have these offshore safe tax havens.
Speaker A
Why, we know, why are we protecting even rich countries?
Speaker A
Why do they protect these people who avoid taxes?
Speaker A
Why is there so much greed?
Speaker A
And then especially our countries, we have been, you know, we have been plundered by these elites.
Speaker A
And simply because there is nothing, there's no, if if this was treated like drug money because it kills people, or like terror financing because it kills people and West worries about it.
Speaker A
This same thing, the money laundered from poor countries into rich countries, that should be treated exactly the same, it kills far more people.
Speaker A
Thank you.
Topics:Imran KhancorruptionUN speechmoney launderingoffshore accountstax havensdeveloping countriespolitical willcapital flightasset recovery
