BERLIN, April 20 (UPI) -- Global anti-corruption group Transparency International called for a focus on financial reform among Group of 20 leaders meeting in Washington this week.
"The time to act is now. It has been two years since the onset of the financial crisis and the critically needed reforms to protect the general pubic from fraud must be fully implemented," Transparency Chairwoman Huguette Labelle said in a statement.
Four days after the U.S. Securities and Exchange Commission charged financial giant Goldman Sachs with fraud, Transparency said, "In the face of mounting evidence of financial fraud … Group of 20 should swiftly implement financial reforms that ensure ethical corporate governance of financial institutions."
Financial ministers and central bank governors from G20 nations are scheduled to meet in Washington Thursday and Friday.
Transparency noted that the World Bank estimated 50 million people in developing countries were held back from escaping poverty in 2009 due to the financial meltdown.
