OECD Development Policy Tools Typology of Corruption Risks in Commodity Trading Transactions
Commodity trading presents specific and heightened risks of corruption due to the large amount of money involved in commodity trading transactions, which are source of important revenues for developing countries, and due to the sophisticated mechanisms used to channel corrupt payments.
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| Formato: | Libro electrónico |
| Idioma: | Inglés |
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Paris :
OECD Publishing
2021.
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| Colección: | OECD development policy tools.
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| Ver en Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009704580506719 |
Tabla de Contenidos:
- Intro
- Foreword
- Acknowledgements
- Executive summary
- 1 Corruption risks across commodity trading transactions: An overview
- Opacity of ownership and governance structures of key actors involved in commodity trading
- Use of corporate vehicles in commodity trading transactions
- Use of front companies to purchase commodities
- Use of joint venture structures in commodity trading transactions
- Concealment of beneficial owners of buyers
- Involvement of politically exposed persons in commodity trading transactions
- Use of intermediaries in commodity trading transactions
- Lack of or insufficient corporate due diligence
- Note
- 2 Corruption risks in the buyer selection process
- Opacity of the selection of buyers
- Use of bribery to secure commodities
- Existence of conflicts of interest between buyer and seller
- 3 Corruption risks in the terms of the sales agreement
- Lack of transparency of the key terms of the transaction
- Additional risks associated with the use of non-conventional sales agreements
- Resource-backed finance agreements
- Commodity-for-product-swap-agreements
- 4 Corruption risks in the transfer of the commodities
- Misinvoicing of commodities
- Misreporting of grade and valuation
- Misreporting of volume
- 5 Corruption risks in the collection of the payment
- Opacity of the revenue flows
- Manipulation of the foreign exchange rate
- Lack of transparency of the payment account
- References
- Annex A. OECD initiatives on corruption in commodity trading
- Thematic Dialogue on Commodity Trading Transparency
- Illicit Financial Flows in Oil and Gas Commodity Trading.
