Global Financial Integrity

 

Illicit Financial Flows

Unaccountable: The Role of Accountancy Firms in International Financial Scandals

The revelatory Luanda Leaks by the International Consortium of Investigative Journalists (ICIJ) and 35 partner organizations exposed the critical role financial service providers – frequently Western – play in facilitating massive international financial scandals. Indeed, the ICIJ...

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New GFI Report Shows Trade Misinvoicing a Major Problem for Developing Countries

A lack of trade integrity results in potentially massive revenue losses – all at a time when most countries are struggling to mobilize domestic resources for development Global Financial Integrity (GFI) recently released its newest report, “Trade-Related...

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Why India Cannot Get the Money Back

Excerpted from ‘India – Still a Shackled Giant’ by Dev Kar, with Penguin Random House India permission.  A few years after retiring from the IMF, I applied for the position of lead economist at GFI, then a...

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With Spate of New Bills, Congress Has Chance to Tackle Kleptocracy

Photo by Gautier Salles on Unsplash

Twenty-five luxury vehicles worth over $27 million. Gilded toilets in a secret forest compound. Three lions in a private zoo. A $200,000 wedding dress for a cabinet minister’s daughter. The bounty of kleptocracy can take many, sometimes...

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Seventh Annual Amartya Sen Essay Contest 2020

In August 2020, Global Financial Integrity and Academics Stand Against Poverty will be awarding the seventh annual Amartya Sen Prize to the two best original essays that examine one particular component of illicit financial flows, the resulting...

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Free trade zones: a Pandora’s box for illicit money

Governments around the world are increasingly turning to free trade zones (FTZs) as a means of promoting economic growth and investment: Ghana recently signed an agreement with Iran to bolster cooperation between their free zones, while the...

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Out of Africa: Capital Flight

by Ben Iorio “The traditional thinking has always been that the West is pouring money into Africa through foreign aid and other private-sector flows, without receiving much in return. Actually, that logic is upside down – Africa...

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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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