How to fix state capture, according to Lord Hain

Tightening international cooperation is among concrete remedial measures proposed by United Kingdom House of Lords peer and anti-apartheid activist Peter Hain to governments, international law enforcement agencies and corporates, to stamp out the scourge of state capture – a phenomenon which has adversely crippled economies of emerging countries.

Increased transparency on the beneficial owners of corporates by strengthening the programme for auditing the due diligence conducted by banks and professional enablers, to ensure that they fully complied with anti-money laundering legislation and polices Joining the Extractive Industries Transparency Initiative to ensure greater transparency and accountability on the operation of the extractive industries – historically an area at higher risk of corruption.

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