Advocacy work to curb illicit financial flows and increase financial transparency that can spur development is only getting started, the Financial Transparency Coalition said at the end of the 6th Financial Transparency Conference held in Jakarta, Indonesia last week.

The coalition which brings together civil society, governments, and the world’s foremost experts on illicit financial flows, explored ways to stop the illicit financial flows that are stifling economic growth and development and to strengthen the broader movement for financial transparency. 

“We must continue to push for further equity in the decision making process. It’s quite stark that we had more than 25 countries represented here in Jakarta, but more than half of these countries have no voice and no vote in tax standards being set by the Paris-led OECD, despite being some of the most affected by tax dodging and illicit flows,”  said Alvin Mosioma, Chair of the Financial Transparency Coalition.

“This is perhaps one of the most diverse groups of civil society we’ve seen yet,” said Porter McConnell, Director of the Financial Transparency Coalition. “Whether it’s tax justice campaigners, human rights groups, transparency advocates, or the open data community, we are all waking up to the fact that a broken and secretive financial system is at the heart of many problems plaguing our society.”

“This is perhaps one of the most diverse groups of civil society we’ve seen yet,” said Porter McConnell, Director of the Financial Transparency Coalition. “Whether it’s tax justice campaigners, human rights groups, transparency advocates, or the open data community, we are all waking up to the fact that a broken and secretive financial system is at the heart of many problems plaguing our society.”