{"id":1635,"date":"2021-06-14T20:18:24","date_gmt":"2021-06-15T00:18:24","guid":{"rendered":"http:\/\/ielrblog.com\/?p=1635"},"modified":"2021-06-14T20:18:24","modified_gmt":"2021-06-15T00:18:24","slug":"g7-vows-to-act-on-corruption-ransomware-forced-labor-and-illicit-financing","status":"publish","type":"post","link":"https:\/\/ielrblog.com\/index.php\/2021\/06\/14\/g7-vows-to-act-on-corruption-ransomware-forced-labor-and-illicit-financing\/","title":{"rendered":"G7 Vows to Act on Corruption, Ransomware, Forced Labor, and Illicit Financing"},"content":{"rendered":"<p>On June 13, 2021, at the conclusion of its meeting the G7 announced in <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/06\/13\/carbis-bay-g7-summit-communique\/\">its Communiqu\u00e9 joint action against several criminal and international enforcement matters<\/a>.<\/p>\n<p><em>Corruption, Illicit Financial Activities, and Misuse of Shell Companies<\/em><\/p>\n<p>The Communique recognizes \u201cthe need action on corruption, including by sharing information on illicit financial activities, tacking the misuse of shell companies, and curtailing the ability of illicit actors to hide wealth.\u201d<\/p>\n<p>As part of its <a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/06\/13\/fact-sheet-g7-to-announce-joint-actions-on-forced-labor-in-global-supply-chains-anticorruption-and-ransomware\/\">G7 Fact Sheet<\/a> the Biden Administration underscored how on June 3, 2021 President Biden declared efforts to combat corruption a \u201ccore U.S. National interest,\u201d and issued a National Security Student Memorandum on the Fight Against Corruption to elevate this effort.<\/p>\n<p>The G7 Fact Sheet states the U.S. will tackle \u201cthe misuse of shell companies, limiting the ability of bad actors to launder dirty money in real estate purchases, improving corruption-related information sharing, and reforming foreign assistance to focus on anticorruption as a cross-cutting priority.\u201d <a href=\"#_ftn1\" name=\"_ftnref1\">[1]<\/a> The Fact Sheet says the U.S. welcomes the G7 commitment to take collection action in combatting corruption.<\/p>\n<p><em>Ransomware <\/em><\/p>\n<p>The Communique states the G7 reiterates its interest in stable and predictable relations with Russia.\u00a0 In that regard, it states that it will \u201cidentify, disrupt, and hold to account those within its borders who conduct ransomware attacks, abuse virtual currency to launder ransoms, and other cybercrimes.\u201d<a href=\"#_ftn2\" name=\"_ftnref2\">[2]<\/a> \u00a0\u00a0The Biden Administration\u2019s G7 Fact Sheet states the transnational criminal enterprises committing ransomware leverage infrastructure, virtual currency, and money laundering networks.\u00a0 They target victims worldwide, often operating \u201cfrom geographic locations that offer a permissive environment for carrying out such malicious cyber activities.\u201d<\/p>\n<p>The G7 Fact Sheet states the international community \u2013both governments and private sector actors \u2013 must cooperate to ensure that \u201cmalicious cyber activity is investigated and prosecuted, that we bolster our collective cyber defenses, and that States address the criminal activity taking place within their borders.\u201d<\/p>\n<p><em>Removing Forced Labor from Global Supply Chains<\/em><\/p>\n<p>The Communique expresses concern about the use of all forms of forced labor in global supply chains, including state-sponsored forced labor of vulnerable groups and minorities and supply chains of the agricultural, solar, and garment sectors \u2013 the main supply chains of concern in Xinjiang, China.<\/p>\n<p>G7 leaders agreed to uphold human rights and international labor standards, and protecting individuals from forced labor.\u00a0 Hence, they commit to ensuring all global supply chains are free from the use of forced labor.\u00a0 They propose to identify areas for increased cooperation and collective efforts to eradicate the use of all forms of forced labor in global supply chains, in accordance with international and national law.<a href=\"#_ftn3\" name=\"_ftnref3\">[3]<\/a><\/p>\n<p><em>International Human Rights Concerns<\/em><\/p>\n<p>The Communique mentions concerns about international human rights violations in Russia, Belarus, Myanmar, and Ethiopia\u2019s Tigray region.<\/p>\n<p><em>Analysis<\/em><\/p>\n<p>The commitments in the G7 Communique to stronger international enforcement initiative are importance for setting and reinforcing international enforcement cooperation.\u00a0 The nature of the G7 meetings and communiques limit the commitments to broad policy statements.\u00a0 The follow up comes from action by international organizations, such as the EU, the OECD, the World Bank Group, and national governments. The limits of the Communiques are inability to implement the broad policy decisions, including when governments and policies change from time to time.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"#_ftnref1\" name=\"_ftn1\">[1]<\/a>\u00a0\u00a0 G7 Communique, paragr. 48.<\/p>\n<p><a href=\"#_ftnref2\" name=\"_ftn2\">[2]<\/a>\u00a0\u00a0 G7 Communique, paragr. 51.<\/p>\n<p><a href=\"#_ftnref3\" name=\"_ftn3\">[3]<\/a>\u00a0\u00a0\u00a0 G7 Communique, paragr. 29.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 13, 2021, at the conclusion of its meeting the G7 announced in its Communiqu\u00e9 joint action against several criminal and international enforcement matters. Corruption, Illicit Financial Activities, and Misuse of Shell Companies The Communique recognizes \u201cthe need action on corruption, including by sharing information on illicit financial activities, tacking the misuse of shell [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[138,79,33,45,14,36,98,164,232,140,42,93,153,35,88,77,84,85,43,65,4,233,3,11],"tags":[234],"class_list":{"0":"post-1635","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-conflict-prevention","7":"category-corruption","8":"category-cybercrime","9":"category-cybercrime-and-cryptocurrency","10":"category-data-privacy","11":"category-extradition","12":"category-extraterritorial-jurisdiction","13":"category-financial-intelligence","14":"category-forcedlabor","15":"category-fraud","16":"category-governmental-networks","17":"category-human-rights","18":"category-illicitfinancing","19":"category-institutional-cooperation","20":"category-international-cooperation","21":"category-international-criminal-law","22":"category-international-evidence-gathering","23":"category-international-human-rights-and-magnitsky-act","24":"category-international-regimes","25":"category-internationalhumanrights","26":"category-money-laundering-and-bank-secrecy","27":"category-ransomware","28":"category-transnational-corruption-money-laundering-and-asset-forfeiture","29":"category-transnational-organized-crime-cybercrime-narcotics","30":"tag-g7","31":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>G7 Vows to Act on Corruption, Ransomware, Forced Labor, and Illicit Financing | IELR Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ielrblog.com\/index.php\/2021\/06\/14\/g7-vows-to-act-on-corruption-ransomware-forced-labor-and-illicit-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"G7 Vows to Act on Corruption, Ransomware, Forced Labor, and Illicit Financing | IELR Blog\" \/>\n<meta property=\"og:description\" content=\"On June 13, 2021, at the conclusion of its meeting the G7 announced in its Communiqu\u00e9 joint action against several criminal and international enforcement matters. 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