Global Financial Integrity

GFI header image

After HSBC, GFI Calls For Regulators To Change The Incentives For The Financial Industry

WASHINGTON, DC – Global Financial Integrity applauded the Senate Permanent Subcommittee on Investigations today on this week’s hearing, “U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History.” The hearing painted a picture of a bank that chose profit over protection, failing to apply legally mandated anti-money laundering protections to many of its accounts.

Read More SHARE

A More Comprehensive Understanding of Sustainable Development: GFI Sees Step Forward at Rio+20

Illicit Financial Flows, Corruption Included in Sustainable Development Agenda for the First Time

WASHINGTON D.C. – Global Financial Integrity (GFI), a Washington-based research and advocacy organization, praised the commitments made to address illicit financial flows by leaders in government and business at the United Nations Conference on Sustainable Development, also known as the Rio+20, Conference this week.

Read More SHARE

To Ensure Stability, G20 Should Tackle Tax Haven Secrecy, Curtail Illicit Financial Flows

Greece Lost US$160 Billion to Illicit Financial Outflows over Past Decade

WASHINGTON, DC – Global Financial Integrity (GFI) today called upon G20 leaders meeting this week in Los Cabos, Mexico to tackle the issue of tax haven secrecy and the illicit financial flows it facilitates as a necessary means to ensuring stability in the international financial system.

Read More SHARE

Mexico Hemorrhages US$872 Billion to Crime, Corruption, Tax Evasion from 1970-2010

Illicit Financial Outflows Average Over 5% of GDP, Driven by Underground Economy, Spiked in Wake of NAFTA

Study Recommends Policies Be Implemented to Address Trade Mispricing, Money Laundering, Tax Evasion

MEXICO CITY / WASHINGTON, DC – Crime, corruption and tax evasion cost the Mexican economy US$872 billion between 1970 and 2010 according to a new report from Global Financial Integrity (GFI), a Washington, DC-based research and advocacy organization. The illicit financial outflows, which averaged a massive 5.2% of GDP, grew significantly over the 41-year period studied from just US$1 billion in 1970 to US$68.5 billion in 2010.

Read More SHARE

Mexico Press Briefing: New Report on Illicit Financial Flows out of Mexico

MEXICO CITY – Representatives from Global Financial Integrity will be holding a briefing on the report for journalists in the Doña Sol Room at the Hilton Mexico City Reforma Hotel in Mexico City on Monday, January 30, 2012 at 11am CST.

Read More SHARE

Revamping Brazilian Tax Policy with Emphasis on “Fiscal Justice”

GFI’S Heather Lowe to Deliver Remarks on Impact of Illicit Financial Flows, Financial Secrecy at High-Level Tax Policy Conference

WASHINGTON, DC – Global Financial Integrity’s Legal Counsel and Director of Government Affairs, Heather Lowe, will deliver remarks at the Brazilian Council of Economic and Social Development’s International Seminar on Fiscal Justice on Wednesday, August 10, 2011. Ms. Lowe’s remarks will be part of the seminar’s fiscal policy, productivity and competitiveness panel.

Read More SHARE

GFI Estimates Mexico Loses Over US$50 Billion Annually in Illicit Financial Outflows

New Blog Post Reveals Mexican Economy Lost US$462 billion between 2000 and 2008

WASHINGTON, DC – As drug violence in Mexico spirals out of control, a new blog post published today on the website of the Task Force on Financial Integrity & Economic Development reveals that the Mexican economy is losing over US$50 billion per year in illicit financial outflows.  Citing data from GFI’s forthcoming report, Illicit Financial Flows from Developing Countries: 2000-2009, Global Financial Integrity Economist Karly Curcio states that, between 2000 and 2008, total illicit financial outflows from Mexico totaled US$462 billion.

Read More SHARE

New GFI Blog Post Reveals Venezuela Lost Over US$33 Billion in Illicit Outflows in 2008

Data Part of a Forthcoming Global Financial Integrity Report on Illicit Outflows from the Developing World

WASHINGTON, DC – A new blog post published today on the website of the Task Force on Financial Integrity & Economic Development sheds light on the economic challenges facing Venezuela under its current leadership.  The post reveals new numbers from an upcoming Global Financial Integrity report on illicit financial flows (IFF) out of the developing world and explains the linkages between IFFs, poverty, censorship and corruption.

Read More SHARE