Prime minister David Cameron is to host the Anti-Corruption Summit 2016 this week, which aims to bolster good governance and transparency and support sustainable development.
The summit on Thursday aims to agree a package of actions to tackle corruption.
Among the issues it aims to deal with are corporate secrecy, government transparency, the enforcement of international anti-corruption laws, and the strengthening of international institutions.
World leaders and leading figures from business and civil society hope to agree a package of measures to expose corruption, punish perpetrators and support those affected by corruption.
The summit will be preceded on Wednesday by the Tackling Corruption Together conference hosted by a variety of NGOs and businesses.
Transparency International (TI) said that the recent leak of the Panama Papers, which revealed how illicit wealth is laundered using secret companies, should strengthen world leaders’ resolve to take concrete action to stop global corruption.
It said some governments had already taken the opportunity of the summit to announce anti-corruption initiatives.
The US will introduce a package of measures to strengthen financial transparency, and combat corruption and money laundering. Nigeria, South Africa and Australia are supporting the creation of public register of the real owners of companies to end secrecy.
Among the measures TI called for the summit to bring about are an end to secret companies, more cross-border sharing of information, the barring of corrupt companies from public contracts and laws that protect whistleblowers.