The UK has hosted a global anti-corruption summit, aimed at exposing, punishing and driving out corruption.
Leaders, delegations and organisations from around the world attended the summit with several initiatives emerging from the event, including a new global anti-corruption centre to be based in London.
Our UK Correspondent Natalie Powell reports.
It comes just days after the British Prime Minister David Cameron was caught on camera calling Nigeria 'fantastically corrupt'. And following the gaff Prime Minister Cameron has had to do a lot of back peddling.
Our UK Correspondent Natalie Powell reports from the summit….
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SCRIPT
The British Prime Minster was joined by the US Secretary of State John Kerry and several world leaders and representatives at the summit in London, to begin the pursuit of a global effort to tackle corruption.
The effects of corruption are widespread and charity Christian Aid has been one organisation spreading that message. Joseph Sted, the senior economic Justice advice at Christian Aid, explains why hosting this event in the UK is a significant move.
JOSEPH STED, SENIOR ECONOMIC JUSTICE ADVISOR, CHRISTIAN AID
we see everywhere in the world the challenge that corruption presents and the amount of money that's lost,…. I think it's really important that it is taking place in London where a lot of laundered money ends up and the fact that the UK responsible not just for the city of London but the overseas territories and crown dependencies.
High on the agenda here are discussions around not only how to crack down on corruption, but also how to remove the enablers of that corruption such as shell companies like those in the British Virgin Islands.
And the importance of global cooperation was highlighted by the Briths Prime Minister David Cameron.
GRAB: DAVID CAMERON, BRITISH PRIME MINISTER
"Countries are coming together with a very clear declaration, there's a communique with a very clear set of actions and crucially there's country by country commitments that they're making to tackle the issues of corruption"
US Secretary of state, John Kerry, remarked the dangers of corruption were widespread and that a crack down would be needed to help tackle extremism, with undeclared or secret assets often found to be the source of funding for crime and terror.
GRAB: ADRIAN LOVETT, DEPUTY CEO, ONE CAMPAIGN
The UK has also been praised for secreting commitments from around 20 other countries to reinforce legislation to ensure stolen assets can be recovered.
With many countries already pledging to increase transparency by creating a public register on which the beneficiaries and owners of companies and trusts must be named. AS Adrian Lovett, the Deputy CEO of the One Campaign explains
The Nigerian President has been thrust into the spotlight of this conference, after UK Prime Minister David Cameron was caught on camera calling Nigeria 'fantastically corrupt'.
President Buhari has been praised though for his efforts to deal with corruption in Niger,a as Adrian Lovette from the One Campaign explains
GRAB: ADRIAN LOVETT, DEPUTY CEO, ONE CAMPAIGN
He is taking brave fight against corruption against a lot of vested interest in his country and everyone wants him to succeed in that and yes it is important that Africa comes together that Africa's leaders come together support leaders like him an ensure that across the continent there is transparency revolution .
All countries attending the summit have signed up tot he first ever global declaration against corruption.
However experts agree that while opening the dialogue in London has been a good thing, just talking about it simply won't be enough.
And concrete action will be needed in the coming weeks, months and years if corruption is to be stamped out.
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opening the dialogue on how to tackle corruption here in London is certainly seen as positive step forward. However experts say that talking will simply not be enough and more concrete action will be needed after this summit if corruption is to be stamped out.
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