Our ocean is under increasing threat from climate change, pollution and overexploitation; aspects that have been intensified by the COVID-19 pandemic. The sustainable management of fisheries is therefore more important than ever. Yet, sincere efforts are constantly undermined by illegal activities, including various forms of corruption. This cross-cutting factor has received surprisingly little attention, although there is substantial evidence to suggest that corruption in fisheries is perceived to be widespread and highly damaging. The complexity of the fisheries sector, characterised by often long supply chains, as well as a combination of corporate structures and welcoming jurisdictions that protect the identity of owners, makes the sector particularly vulnerable to the negative impacts of beneficial ownership secrecy.

The demand for beneficial ownership transparency in the fisheries sector, i.e. the natural person who ultimately owns or controls a business or transaction, is linked to a range of policy concerns, perhaps most notably in terms of the fight against illegal fishing and corruption, but also regarding the extent of economic concentration and foreign ownership in the sector. While international campaigns for more transparency in transnational finance are gaining pace, progress in the fisheries sector is slow.

This second webinar^[1]“Fishing in the dark: Beneficial ownership in the fisheries sector” will examine how the combination of corporate structures and welcoming jurisdictions create a ‘sweet spot’ for beneficial ownership secrecy and identify practical measures to address this challenge in the global fisheries sector.

^[1] This webinar is part of the series “Tackling corruption in fisheries: Vulnerabilities, supporting factors and solution approaches”, jointly organized by the International Anti-Corruption Academy and the Fisheries Transparency Initiative, exploring the issue of corruption in the fisheries sector, emphasising specific areas that are most prone to the problem.