E.J. Fagan, +1 202 293 0740 ext. 227
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.
E.J. Fagan, +1 202 293 0740 ext. 227
WASHINGTON, DC – The FACT Coalition will host a joint press conference on Tuesday, July 17th following the Senate Permanent Subcommittee on Investigation’s hearing “U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History.”
Three anti-money laundering experts representing Global Financial Integrity, Global Witness, and special guest Dennis M. Lormel, former Chief of the FBI’s Terrorist Financing Operations Section, Counterterrorism Division, will answer questions that arise from the hearing.
Criminals, Terrorists, Kleptocrats, and Tax Evaders Currently Abusing Anonymous American Corporations to Launder Money, Shield Themselves from Law Enforcement
WASHINGTON, DC – Two recent articles published in The New York Times expose how criminals, terrorists, corrupt foreign politicians, and tax evaders abuse anonymous U.S. shell companies to launder their profits and impede law enforcement investigators, highlighting the need—says Global Financial Integrity (GFI)—for Congress to enact legislation requiring disclosure of the true (human) beneficial owners of corporations, trusts and foundations.
Disingenuous Reporting Distracts from Curtailing Illicit Financial Outflows from the World’s Largest Democracy
GFI ‘Disappointed’ in Indian Newspaper
WASHINGTON, DC – Global Financial Integrity (GFI) today denounced an article published by The Economic Times (ET) late Monday, explaining that the story represented sloppy journalism and was riddled with factual inaccuracies. Titled “GFI okay with govt’s black money fight despite white paper censure,” the article was authored by Binoy Prabhakar, the publication’s news editor.
E.J. Fagan, +1 202 293 0740 ext. 227
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.
GFI Praises G20 Renewal of Anti-Corruption Working Group, Disappointed in Failure to Tackle Anonymous Shell Companies
WASHINGTON, DC – Global Financial Integrity (GFI) praised G20 leaders today for prominently focusing on the issue of illicit financial flows, committing to move toward the automatic exchange of tax information, and renewing the mandate of the Anti-Corruption Working Group for another two years, but expressed disappointment in the leaders’ failure to address the issue of anonymous shell companies.
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.
Global Financial Integrity Lauds International Financial Institution for Anti-Corruption Milestone
WASHINGTON, DC – Global Financial Integrity (GFI) applauded the World Bank for changing its policy and committing to publicly disclose the logic behind its decisions to sanction companies and individuals for alleged fraud and corruption, heralding the move as a major step forward in the Bank’s moves towards transparency. GFI believes the publication of these decisions will provide crucial information to foreign government officials, civil society organizations, and businesses as they monitor corruption risks around the world.
