Global Financial Integrity

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Press Releases

New Report from GFI Examines Illicit Financial Flows in Colombia, Finds Revenue Losses of US$2.8 Billion in 2016.

FOR IMMEDIATE RELEASE October 1, 2019 WASHINGTON, D.C. — In collaboration with the Economist Intelligence Unit (EIU) and Colombian NGO Cedetrabajo, Global Financial Integrity (GFI) publishes a new report, “Illicit Financial Flows & Colombia.” GFI estimates the...

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Bipartisan Bill to Combat Anonymous Companies Introduced by Eight Key Senators

FOR IMMEDIATE RELEASE September 26, 2019 Bipartisan Bill to Combat Anonymous Companies Introduced by Eight Key Senators Statement by Global Financial Integrity WASHINGTON, D.C. — Introduced Thursday by a bipartisan group of eight US senators, the Improving Laundering...

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GFI: Indonesia lost estimated US$6.5 billion to trade misinvoicing in 2016.

Washington, DC –In a comprehensive new study on the level of trade misinvoicing in Indonesia in 2016, GFI found that the estimated potential tax revenue losses to the Indonesian government that year is approximately US$6.5 billion, equivalent...

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GFI: India lost estimated US$13 billion to trade misinvoicing in 2016.

Washington, DC – In a comprehensive study on the level of trade misinvoicing in India in 2016, GFI found that the estimated potential tax revenue losses to the Indian government that year is US$13.0 billion, equivalent to 5.5...

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Tom Cardamone: President and Chief Executive Officer

Washington, DC– Tom Cardamone, with the recommendation of Raymond Baker and the unanimous approval of the Board of Directors, becomes President and Chief Executive Officer of Global Financial Integrity (GFI) with effect from May 1, 2019. Directors...

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Illicit Financial Flows are Significant and Persistent Drag on Developing Country Economies

A new analysis of illicit financial flows (IFFs) due to trade misinvoicing in 148 developing countries demonstrates that trade-related IFFs appear to be both significant and persistent features of developing country trade with advanced economies.

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Global Financial Integrity Releases New Study on Trade Misinvoicing in South Africa

  South Africa Trade Misinvoicing Leads to Massive Revenue Losses   WASHINGTON, DC – Analysis of trade misinvoicing in South Africa from 2010 – 2014 shows that the potential average loss of revenue to the government was...

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Global Financial Integrity Releases New Study on Trade Misinvoicing in Nigeria

  Nigeria Trade Misinvoicing Leads to Significant Revenue Losses   Misinvoicing of Imports and Exports is 15 percent of all Trade Transactions   WASHINGTON, DC – Analysis of trade misinvoicing in Nigeria in 2014 shows that the...

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