August 14, 2012
WASHINGTON, DC – In response to news today that British bank Standard Chartered PLC settled money laundering allegations with New York regulators by agreeing to pay $340 million in fines and submitting to monitoring, Heather Lowe, legal counsel and director of Government Affairs at Global Financial Integrity, released the following statement:
August 7, 2012
WASHINGTON, DC – The allegations levied yesterday by the New York State Department of Financial Services against British banking giant Standard Chartered demonstrate a systemic, widespread pattern of disregard for anti-money laundering policies at one of the world’s biggest banks, according to Global Financial Integrity, a Washington, DC-based research and advocacy organization.
July 19, 2012
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.
July 16, 2012
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.
July 3, 2012
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.
June 25, 2012
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.
June 22, 2012
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.
June 20, 2012
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.