Global Financial Integrity

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Press Releases

GFI Welcomes New Advisory Board Member

Monique Perry Danziger, +1 202 293 0740 ext. 222

WASHINGTON, DC – Global Financial Integrity welcomes Krishen Mehta, as the newest member of its Advisory Board.  Mr. Mehta is a U.S. CPA and has been a partner with PricewaterhouseCoopers (PwC) for almost 20 years.  From 1994 to 2008 Mr. Mehta worked closely with PwC clients in Japan, South Korea, China, Singapore, Malaysia, Indonesia, Taiwan, and India.

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Illicit Financial Outflows from India $22 Billion-$27 Billion per Year

Monique Perry Danziger, +1 202 293 0740 ext. 222

WASHINGTON, DC – Global Financial Integrity issued a statement today on its 2008 report “Illicit Financial Flows from Developing Countries: 2002-2006,” in response to growing interest in and citation of the report’s estimates of illicit capital flight out of India, which is ranked fifth out of 160 developing countries analyzed.

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Netherlands Ministry of Foreign Affairs Joins Task Force

Monique Perry Danziger, +1 202 293 0740 ext. 222

WASHINGTON, DC – The Netherlands Ministry of Foreign Affairs is the newest member to join the Task Force on Financial Integrity and Economic Development as a member of the Task Force Partnership Panel, Global Financial Integrity (GFI) announced today.

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On Tax Day a Look Back, and What the Future Holds for Tax Dodgers and Banking Secrecy

Monique Perry Danziger, +1 202 293 0740 ext. 222

Official Statement from GFI

WASHINGTON, DC – This time last year the German government was pursuing a campaign to obtain information on 900 of its citizens whose names appeared on a list of secret accounts at Liechtenstein’s LGT bank.  Meanwhile, presidential hopeful and then-Senator Barack Obama was pledging to crackdown on tax havens and tax evaders if elected president.  The world economy was still in one piece and the Dow was above 10,000.

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G20 Must Combat Illicit Flight To Alleviate Poverty In Developing Countries

Monique Perry Danziger, +1 202 293 0740 ext. 222
Corinna Gilfillan

Joint News Release from Global Financial Integrity and Global Witness

WASHINGTON, DC – Every year developing countries lose as much as $1 trillion due to illicit financial practices such as government corruption, tax evasion, and criminal activity. Today’s pledge from the G20 to increase funding for the IMF and for the developing world are laudable, but these efforts must also address illicit capital flight which remains the greatest impediment to economic development and poverty alleviation.

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G20 Reaction: Tax Havens and Secrecy Jurisdictions

Monique Perry Danziger, +1 202 293 0740 ext. 222

Not the Beginning of the End but, Perhaps, the End of the Beginning

WASHINGTON, DC – Contrary to UK Prime Minister Gordon Brown’s statement today that provisions in the G20 Communiqué denote the “start of the end” of tax havens, Global Financial Integrity (GFI) believes the Action Plan agreed to in London today “is more likely just the end of the beginning” of the effort to curtail the activities of jurisdictions that hide financial transactions behind a veil of secrecy.

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GFI Submits Statement and Signed Letter of Support for Stop Tax Haven Abuse Act to Congress

Monique Perry Danziger, +1 202 293 0740 ext. 222

WASHINGTON, DC – Global Financial Integrity (GFI) submitted a statement to the U.S. House of Representatives Committee on Ways and Means today on critical measures needed to ensure success in Congressional efforts to curtail abuse of tax havens.  The statement, submitted for the hearing held today on “Banking Secrecy and Wealthy American Taxpayers,” recommends provisions set forward in the the Stop Tax Haven Abuse Act and Incorporation Transparency Act, both sponsored by Senator Carl Levin and introduced earlier this month.

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Civil Society Groups Show Support for Congressional Action on Tax Havens

Monique Perry Danziger, +1 202 293 0740 ext. 222

WASHINGTON, DC – Global Financial Integrity (GFI) sent Congressional leadership a letter today signed by nearly 30 public interest groups affirming support for legislation that would combat offshore secrecy jurisdictions (Stop Tax Haven Abuse Act) and applauding Congressional action on the problem of tax haven abuse.   Called the “Stop Tax Haven Abuse Act” the Levin bill would, among other benefits, give the Treasury Department “authority to take special measures against foreign jurisdictions and financial institutions that impede U.S. tax enforcement.”  An estimated $100 billion in US taxes are lost each year due to the abuse of tax havens.

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