Asset declaration systems are one of the most powerful tools in combating corruption. However, the effectiveness of asset declarations all depends on their verification. When verifying asset declarations of public officials, access to foreign data is one of the main challenges. The “International Treaty on Exchange of Data for the Verification of Asset Declarations” (the “Treaty”) has been signed already by four countries outside of the European Union (“EU”).
This guest blog by Dr. Tilman Hoppe and Dr. Felix Lüth makes the case why the EU could and should join the Treaty, significantly increasing the capacity of anti-corruption agencies in verifying asset declarations across borders.