By CFS on Tue, 08/09/2022 - 14:00

Metaverse has changed the nature of societies and economies. It has disrupted social order by changing how people value and interact through their digital identities. Their digital identities have an impact how they make decisions online and whether their decisions have legal and social implications. Metaverse has the potential of creating global disorder, if not regulated and understood. The metaverse has established new marketplaces with globally registered accounts nearing 800 million and revenues approaching US$ 1 billion annually. These marketplaces are accessible to countless companies, fraudsters, and other criminals. Do we have an idea of the forms of illicit financial flows (IFFs) the metaverse fosters? To understand and identify these new legal and social challenges arising from the metaverse, CFS seeks to engage state actors, private stakeholders, civil society, and academics on the socio-legal implications of the metaverse capable of causing global (dis)order. To flag off this project, CFS and ICTD will start by holding a series of focused workshops to discuss the reasons for and the impacts of these new forms of global dis(order) arising out of changes in behaviour due to augmented digital identities and criminality as well as the necessary legal and regulatory framework and institutions needed to fight these emerging forms. The objective in holding these focused workshops is to generate research needed for knowledge transfer, policy advocacy, capacity building and training. Each workshop will result in the publication of primers, policy briefs and research papers. Based on the research outcomes, CFS will design capacity building and training modules which will be hosted on an open access website.

Commitment to Financial Integrity and Anti Illicit Finance Practices

The Committee on Fiscal Studies is committed to the highest standards of integrity and ethical conduct. We maintain a zero-tolerance policy towards corruption, illicit financial flows, money laundering, bribery, and related financial misconduct. All individuals associated with our work, whether as staff, interns, consultants, or partners are expected to uphold these principles without exception. We wish to make clear that our institution does not knowingly engage with or provide platforms to individuals involved in corrupt practices, fraudulent activities, or violations of financial integrity standards. We categorically dissociate ourselves from any such conduct. We implement enhanced due diligence protocols for all prospective team members, including comprehensive background screening and verification of professional conduct. These measures apply across all roles and engagement types. Our work in fiscal governance, tax policy, and public finance demands unwavering commitment to legitimacy and transparency. We take this responsibility to our stakeholders, the organisations we serve, and the broader development community with utmost seriousness.