New Blog Post Reveals Mexican Economy Lost US$462 billion between 2000 and 2008
WASHINGTON, DC – As drug violence in Mexico spirals out of control, a new blog post published today on the website of the Task Force on Financial Integrity & Economic Development reveals that the Mexican economy is losing over US$50 billion per year in illicit financial outflows. Citing data from GFI’s forthcoming report, Illicit Financial Flows from Developing Countries: 2000-2009, Global Financial Integrity Economist Karly Curcio states that, between 2000 and 2008, total illicit financial outflows from Mexico totaled US$462 billion.
WASHINGTON, DC — Global Financial Integrity (GFI) marks the passing of George Vojta, a distinguished and luminary figure in the financial world. GFI director, Raymond Baker, issued the following statement following the news of Mr. Vojta’s passing:
Accepted Award at Gala Dinner in Washington, DC
WASHINGTON, DC — Friday evening, Global Financial Integrity (GFI) presented its 2010 award for Exemplary Leadership to European Parliament Member Eva Joly in honor of her tireless work against corruption and fraud. Ms. Joly accepted the award at a gala dinner held in her honor at a private club Friday evening, December 10, 2010 in Washington, DC.
Global Financial Integrity Director Raymond Baker Warns of Danger to the World’s Flagship Anti-Corruption Legislation
WASHINGTON, DC – To mark this year’s International Anti-Corruption Day, Global Financial Integrity (GFI) director Raymond Baker has written a piece warning against challenges posed to the United State’s key anti-corruption legislation, the Foreign Corrupt Practices Act (FCPA).
Global Financial Integrity
New U.S. and UK Laws, Multi-Lateral Actions Represent Significant Gains, but Challenges Still Exist
WASHINGTON, DC – In October 2003 the United Nations General Assembly adopted the UN Convention Against Corruption (UNCAC) and designated December 9th as International Anti-Corruption Day. Global Financial Integrity looks back on the past year to see how anti-corruption efforts fared.
Global Financial Integrity
Will Accept Award at Gala Dinner in Washington, DC
WASHINGTON, DC — Global Financial Integrity (GFI) is pleased to announce European Parliament Member Eva Joly as the recipient of its 2010 award for Exemplary Leadership in honor of the great work she has done against corruption and fraud. Ms. Joly will accept the award at a gala dinner to be held at a private club on Friday, December 10, 2010 in Washington, DC.
Examines Role of Tax Evasion, Corruption, Trade Mispricing
WASHINGTON, DC — “The Drivers and Dynamics of Illicit Financial Flows from India: 1948-2008,” released today from Global Financial Integrity (GFI), estimates that tax evasion, crime, and corruption have removed gross illicit assets from India worth US $462 billion. The report also finds that the faster rates of economic growth since economic reform started in 1991 led to a deterioration of income distribution which led to more illicit flows from the country. Moreover, the report finds that the poor state of governance is reflected in a growing underground economy which in turn has fueled more transfers of illicit capital from India. This analysis is cast in terms of a pre- and a post-reform period spanning a total of 61 years since independence.
Global Financial Integrity
WASHINGTON, DC – Global Financial Integrity (GFI) applauds Harrington Investments, Inc.’s decision to file shareholder resolutions with Citigroup, Bank of American and JPMorgan Chase, calling for the adoption of a policy position addressing the systemic use of the U.S. financial system to both shelter illicit funds and transfer them internationally.
