CAPITAL FLIGH CONVENTION

CAPITAL FLIGHT CONVENTION | Prevention and Sanction.

Recent special investigations and leaks referred to as “The Panama Papers” and “The Paradise Papers”, have revealed the indisputable criminal behavior of those who open accounts and store profits in so-called “tax havens,” as well as have exposed those governments and financial entities that facilitate and accept such transfers and deposits. This conduct undermines the public’s rights to ownership of their own resources, including natural resources, as established in Article 1.2 of both the United Nations International Covenant on Civil and Political Rights (1966), and the United Nations International Covenant on Economic, Social, and Cultural Rights (1976).

Under the leadership of our member Eduardo Barcesat, CAF provides these governments and social organizations with a proposal of international convention registered at the UNCTAD and UNASUR.