Global Financial Integrity

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Tax Havens, Evasion to be Targeted by European and U.S. Lawmakers in Year Ahead

WASHINGTON, DC – In the wake of a tax evasion scandal which has led to calls for increased transparency and tighter regulation of cross-border capital movement within the European Union, Global Financial Integrity applauds efforts by U.S. legislators to enact legislation which would keep the U.S. apace of its European counterparts.

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Global Financial Integrity Calls for United States to Support the European Union Tax Haven Crackdown

WASHINGTON, DC – As European heads of state and government prepare to meet in Brussels for an annual summit on European Union economic and environmental policies, Global Financial Integrity (GFI) calls for US support of efforts to mitigate tax haven abuse.

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Global Safeguards, Transparency, Key to Stemming Systemic Illicit Financial Flows

Liechtenstein Scandal Points to Need for Improved Global Safeguards to Stem Illicit Financial Flows, Says Global Financial Integrity

WASHINGTON, DC – Global Financial Integrity (GFI) urges the Organization for Economic Cooperation and Development (OECD) and the Financial Action Task Force (FATF) to implement new safeguards that will greatly improve transparency and cooperation in the global financial system.  New policies to further restrict terrorist groups from transferring and hiding funds, to create a level playing field for all taxpayers and to curtail the flow of all forms of illicit capital are critical to the future integrity of the financial system.

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Global Financial Integrity Welcomes John Heimann to Advisory Board

WASHINGTON, DC – Global Financial Integrity (GFI) welcomes John Heimann as the newest member of its advisory board.

“John Heimann brings considerable experience and expertise to our advisory board,” Said GFI Director Raymond Baker.  “We are very excited to have him with us as we embark on a variety of critical illicit finance projects.”

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On Fourth Annual International Anti-Corruption Day, Global Financial Integrity Urges Action

On Fourth Annual International Anti-Corruption Day, Global Financial Integrity Urges Legislative, Executive Action to Combat Corruption

WASHINGTON, DC – Today, as countries around the world observe International Anti-Corruption Day, Washington, DC-based research and advocacy organization Global Financial Integrity (GFI) calls upon the President and Congress to take a critical step against corrupt government officials by mandating that corruption be among the criteria used in compiling the annual State Department Country Report on Human Rights.

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GFI Launches Nationwide Campaign to Curb Illicit Funds at U.S. Banks

One-Half Trillion Dollars in Illicit Funds Exit Developing World Annually, Research Shows

An Estimated $250 Billion Lands in the United States

WASHINGTON, DC – Global Financial Integrity (GFI) announced today that it will lead a nationwide campaign to limit the ability of U.S. financial institutions to accept illicit funds for deposit from overseas clients. An estimated $1 trillion, which are illegally earned, transferred or utilized, are spirited across borders annually. Of this, $500 billion exits developing economies and up to half that amount ends up in American banks or other dollar denominated accounts. “This outflow of capital from developing nations constitutes the most damaging economic condition hurting the poor today,” said GFI Director Raymond Baker.

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Take Dirty Money off the Table

Last month, we marked the fourth anniversary of the Sept. 11 terrorist attacks, which jolted the United States to a new understanding of the terrorist threat. After the smoke cleared, a second alarm went off: How did the terrorists pay for the crime? With newfound resolve, the U.S. government has made headway in choking off the flow of terrorist money, freezing and seizing some $200 million worldwide, according to the U.S. Treasury Department.

For all the new attention to terrorist financing, the United States has come late to the game. The channels through which terrorists’ money flows have existed for years. Drug cartels, dictators and corporate directors long ago perfected the artful dodge. Terrorist financing is just one aspect of the larger problem of dirty money.

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