New Reports from GFI

Illicit Financial Flows from Africa: Hidden Resource for Development

 

March 2010 | Read more...

More new reports:

Privately Held, Non-Resident Deposits in Secrecy Jurisdictions

March 2010 | Read more...

The Implied Tax Revenue Loss from Trade Mispricing

February 2010 | Read more...


Task Force Blog

GFI in the News

Nigeria Finance Cleanup Gains Momentum
The Wall Street Journal, August 6, 2010

Rep. Levin could punt energy bill to September
The Hill, July 20, 2010

Youth Employment - A Must!
Daily Independent (Lagos), July 6, 2010

Egypt no. 2 in Africa in smuggling money
Bikya Masr (Egypt), June 30, 2010

Corruption fight begins at home
Boston Globe, June 25, 2010

Financial Transparency: A National Security Imperative
Diplomatic Courier, June 23, 2010

West  Africa ‘under attack’ by gangs
Financial Times, June 17, 2010

$how Me the Money
Harvard Business School Alumni Bulletin, June 2010


What's New

    August 10, 2010

    Monique Perry Danziger, 202-293-0740

     

    WASHINGTON, DC—Global Financial Integrity (GFI) is featured in an in-depth profile piece appearing in the tax news publication, Tax Notes International, which hit newsstands this week. The article features interviews with GFI director Raymond Baker, managing director Tom Cardamone, and legislative affairs director Heather Lowe in addition to discussing GFI’s work on such issues as transfer pricing, new legislation on tax compliance, and beneficial ownership.

     

    “Tax Analysts is a key source for information on a range of issue GFI works on,” said GFI communications director Monique Danziger.  “We are honored to be featured in Tax Notes International and look forward to working with them on similar pieces in the future.”

     

    The article appears in Tax Analysts hard copy publication Tax Notes International, as well as in the online subscription-based publication Worldwide Tax Daily.

     

    July 21, 2010

    Monique Perry Danziger, 202-293-0740

     

    WASHINGTON, DC—The delay of implementation of the UK Bribery Act until April 2011 is a setback to international anti-corruption and economic development efforts in the world's poorest countries. UK officials announced today that the bill, adopted in April, would not be put into effect for another six months.

     

    "There has already been rigorous consultation and debate over this bill," said GFI director Raymond Baker. "Our fear is that we'll see a weaker form of the law put into effect when it reemerges in six months time."

     

    As drafted now, the law resembles the United States' Foreign Corrupt Practices Act (FCPA), which forbids companies doing business abroad to make payments to foreign officials or politicians for a corrupt purpose. American prosecutors have extracted fines of hundreds of millions of dollars to settle cases under the FCPA, although watchdog groups argue enforcement could be better.

     

    New reporting requirements a “game changer” in extractive industries sector

     

    July 15, 2010

    Monique Perry Danziger, 202-293-0740

     

    WASHINGTON, DC—A provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in the Senate today, will require energy and mining companies registered with the Securities and Exchange Commission (SEC) to report payments to foreign governments for the extraction of oil, gas, and minerals on a country-by-country basis.

     

    “Oil, gas, and mining revenues are critically important economic sectors in about 60 developing countries which, despite abundant natural resources, rank among the lowest in the world on poverty, economic growth, and governance assessments.”

     

    “With this information the citizens of these countries will be able to demand accountability for government corruption and ensure that a fair price is paid for their natural resources.” This is a game changer for many of the countries suffering from the so-called “resource curse,” stated Global Financial Integrity Director Raymond Baker.

     

Illicit Financial Flows

"The most qualified estimate for illegal money flows from developing countries."

-Norwegian Commission on Capital Flight from Poor Countries, June 2009

A new report by Global Financial Integrity,"Illicit Financial Flows from Developing Countries: 2002-2006," shows that the developing world is losing an increasing amount of money through illicit capital flight each year.

Read more...


Demand Transparency

Sign the Petition: Fight Poverty, Protect Human Rights

 

Check out our new web video, and sign the G20 Transparency petition at www.G20Transparency.com.


On Capitol Hill

Sen. Cardin Argues for ESTT Amendment on Senate Floor

Capitol Hill

Senator Ben Cardin took to the U.S. Senate floor Thursday to argue in favor of attaching the Energy Security Through Transparency Act (ESTT) to the financial regulatory reform legislation moving through Congress. This legislation would help bring much needed transparency to the extractive industries.

Watch the video...

For more Capitol Hill resources, click here...


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