By Lakshmi Kumar, December 7, 2020
On the 14th and 21st of October, 2020, Global Financial Integrity (GFI) held a two-part webinar event on illicit gold trade in India, organized in conjunction with Fintelekt. The series explored issues in gold trafficking as a...
By Lionel Bassega, November 24, 2020
Global trade is widely recognized as the lifeblood of a growing economy. However, according to the Wolfsberg’s Group Trade Finance Principles, financial institutions involved in trade financing cannot easily identify instances of over- or under-invoicing (or any...
November 2, 2020
By Sue Ryu In resource rich, commodity-dependent developing nations such as Chile, the issue of trade misinvoicing is not only highly prevalent, but of great negative consequence for public welfare. Chile ranks on the higher end of...
By Lionel Bassega, September 1, 2020
Trade misinvoicing is a persistent and significant feature of international trade transactions. It is a primary means of illicitly shifting funds in and out of a country. It occurs when importers and exporters deliberately falsify the prices,...
A coalition of more than 100 nonprofit groups representing progressive, labor, civil rights, anti-corruption and environmental interests call on Reps. Waters and McHenry to consider country-by-country reporting the Disclosure of Tax Havens and Offshoring Act (H.R. 5933)....
By Lionel Bassega, July 6, 2020
Over the last couple of weeks, the rate of Covid-19 infections has flattened in most of the Global North, while the opposite has happened in the Global South. Indeed, according to data from the World Health Organization...
June 23, 2020
by Abby Guen Operating in the Colombian forests and discreetly crossing borders are traffickers of an exotic good, generating millions of dollars a year in illicit profits: wildlife. As one of the world’s most biodiverse countries, Colombia’s...
May 1, 2020
Editor’s Note: This opinion piece was written by a former US Treasury official, who has requested anonymity. Many illicit finance experts agree trade-based money laundering (TBML) is one of the largest, if not the largest, money laundering...