Charmian Gooch: My wish: To launch a new era of openness in business

Summary

In this compelling talk, the speaker addresses the global issue of anonymous companies, which facilitate the commission of severe crimes by obscuring the identities of those responsible. The speaker, a lifelong advocate for transparency, shares personal anecdotes and experiences from their work with Global Witness, an organization dedicated to investigating and exposing the misuse of corporate structures for illicit activities. The talk concludes with a call to action for global citizens to join a movement advocating for public registries that reveal the true owners of companies, thereby promoting corporate accountability and the public good.

Takeaways

• 🌐 The speaker addresses the global issue of anonymous companies, which can be used to hide the identities of those involved in serious crimes.
• 🔍 Anonymous companies make it difficult to trace the individuals responsible for activities like funding conflicts, state looting, and environmental destruction.
• 💡 The speaker's background as a 'lifelong troublemaker' and questioner of authority led to the founding of Global Witness, an organization focused on investigating and campaigning against such injustices.
• 💼 Global Witness is a team of campaigners, investigators, journalists, and lawyers dedicated to uncovering the truth behind the misuse of companies for illicit purposes.
• 💰 The organization has exposed cases where anonymous companies have been used to deprive citizens of billions of dollars, as seen in the Democratic Republic of Congo.
• 🌳 Examples of environmental destruction linked to anonymous companies include deforestation in Malaysia and attempts to grab land in Liberia.
• 🎥 Undercover investigations by Global Witness have captured the inner workings of how anonymous companies are used in corrupt deals.
• 🏢 The ease with which one can set up an anonymous company, even in developed countries like the UK and the US, highlights the need for greater transparency.
• 🌍 The speaker calls for a global conversation and legal changes to create public registries that reveal the true owners of companies, ending the misuse of anonymous companies.
• 📈 There is growing momentum for this change, with support from the UK government and the European Parliament, indicating a potential shift towards greater corporate transparency.

Q & A

What is the main problem discussed in the transcript?

The main problem discussed is the existence of anonymous companies, which allow individuals to hide their identities and evade accountability for crimes and corruption, often with legal structures.

What is the role of Global Witness as mentioned in the transcript?

Global Witness is a team of campaigners, investigators, journalists, and lawyers that investigates and reports on individuals and entities responsible for funding conflict, state looting, and environmental destruction, and campaigns for systemic change.

How does the issue of anonymous companies relate to natural resource-rich countries?

Many countries rich in natural resources like oil, diamonds, or timber are home to some of the poorest people, and the injustices there are often facilitated by business practices such as the use of anonymous companies.

Can you give an example of how anonymous companies have been misused as per the transcript?

Yes, one example is in the Democratic Republic of Congo, where anonymous companies were used in secretive deals that deprived citizens of over a billion dollars, which is twice the country's health and education budget combined.

What is the process of setting up an anonymous company as described in the transcript?

The process involves choosing a location, selecting a company service provider online, picking a company type, providing a contact name and address (which doesn't have to be one's own), adding an owner (which can be a nominee or another company), and making a payment to set up the company.

Why is it concerning that anonymous companies can be easily set up in places like London and the U.S.?

It is concerning because these locations are not typically associated with secrecy, yet they offer legal frameworks that allow for the easy creation of anonymous companies, which can be misused for criminal activities and corruption.

What is the significance of the nightclub fire incident in Buenos Aires mentioned in the transcript?

The nightclub fire incident in Buenos Aires is significant because it resulted in numerous deaths and injuries, and the investigation into the responsible parties was complicated by the use of anonymous companies, highlighting the real-world impact of such entities.

What is the speaker's wish for the future regarding anonymous companies?

The speaker wishes for a global change in laws to create public registries listing the true owners of companies, making this information accessible to everyone, thereby preventing the misuse of companies for anonymous and illicit activities.

How does the speaker suggest we can work towards ending anonymous companies?

The speaker suggests that we can work towards ending anonymous companies by igniting world opinion, changing laws globally to create public registries of company owners, and pushing politicians to support this cause.

What role does the TED community have in the speaker's vision for ending anonymous companies?

The TED community is seen as a group of creative and innovative thinkers and doers who can make a crucial difference by supporting the campaign, spreading the word, and potentially using their technical skills to create a prototype public registry.