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Officials Sign U.N. Anti-Corruption Pact

Top officials from around the globe gathered Tuesday to sign the first worldwide anti-corruption treaty, a move that may open banks in money-havens to more scrutiny and allow some poor countries to recover billions of looted dollars. U.S. Attorney General John Ashcroft and Mexican President Vicente Fox were among the first to line up to sign the U.N. Convention Against Corruption, a pact that requires countries to aid in investigations and return money to wherever it was stolen or embezzled from. The convention, expected to be signed by over 100 nations, will put both rich and poor ones on a more equal footing when it comes to tracing and returning scandal-tainted money. The treaty got significant support in the developed world, and the United Nations stressed that corruption is not just a problem of developing nations. The pact requires signatories to fight theft in the corporate sector. Full Story

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