Global Financial Integrity

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The G7 and the SDGs

How some of the world’s most advanced economies and free societies implement the SDGs Leer en Espanol By Edda Pleitez The Sustainable Development Goals (SDGs) are a set of measurable, attainable and time-bound objectives that were accepted...

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GFI Joins 126 Groups In Support of the Corporate Transparency Act of 2019

Joint Letter from 127 Groups Supporting Corporate Transparency Act of 2019 (H.R. 2513) The Honorable Carolyn B. Maloney United States House of Representatives 2308 Rayburn House Office Building Washington, D.C. 20515 The Honorable Peter T. King United...

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Cryptocurrency and the rise of new illicit financial flows

By Ben Iorio With the rise of Bitcoin and cryptocurrency, the norms for currency have changed. Cryptocurrencies allow transactions to take place with a currency not regulated by any country. In essence, cryptocurrencies are currencies existing completely...

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New Anti-Money Laundering Bill Neglects Beneficial Ownership

The U.S. House of Representatives Committee on Financial Services has scheduled a Thursday markup on an anti-money laundering (AML) bill (HR 6068) stripped of beneficial ownership provisions necessary to address this widely-recognized and well-documented vulnerability in the U.S. AML regime.

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Rabobank: Similar Facts, Different Outcome–Signal of a New DOJ Approach?

Yesterday’s announcement of a guilty plea by Rabobank NA with corresponding penalty and forfeiture of $369 million did not immediately strike people as new or surprising.  In fact, the pattern of anti-money laundering/Bank Secrecy Act (AML/BSA) violations...

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GFI Opposes H.R. 4519: Letter to the House Financial Services Committee

H.R. 4519, the proposed repeal of Section 1504 of the Dodd-Frank Act, also known as the Cardin-Luger Anti-corruption law, Faces Mark-up Tomorrow

On December 11, 2017, Global Financial Integrity sent a letter to Chairman Jeb Hensarling and Ranking Member Maxine Waters of the House Financial Services Committee urging the Committee to vote “NO” on H.R. 4519, which would repeal a crucial bi-partisan anti-corruption law known from Section 1504 of the Dodd-Frank Act.  Section 1504 helps the U.S. government combat corruption in the oil, gas and mining sectors globally.

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Representative Pocan Introduces New Bill to Address Harmful Gaps in Corporate Financial Transparency Reporting Requirements

“Today, neither legislators nor investors have any reliable information about multinationals’ profit shifting practices apart from the result of them—less revenue in the U.S. treasury and greater risk of enforcement actions worth billions of dollars,” commented Heather Lowe, Legal Counsel and Director of Government Affairs at Global Financial Integrity.

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U.S. Treasury, IRS Move Quickly to Implement OECD BEPS Agreement, Finalizing Rule Requiring Country-by-Country Reporting by Multinationals

Today the U.S. Treasury and the Internal Revenue Service (IRS) published a rule, which will become final tomorrow, requiring the U.S. parent company of large, public and privately held multinational companies to provide certain financial data to the IRS on a country-by-country basis. The information is meant to provide tax authorities with better tools to identify where a company might be artificially shifting profits into tax havens—a red flag for tax evasion and tax avoidance that may warrant further investigation.

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