New Study Shows Kenya Trade Misinvoicing Leads to Significant Revenue Losses Misinvoicing of Imports and Exports Approaches 1/4 of all Trade Transactions WASHINGTON, DC – Analysis of trade misinvoicing in Kenya in 2013 shows that the potential loss...
Study looks at trade from West & Central Africa and Southeast Asia from Source to Buyer Dealers are the most important actors in the illicit supply chain WASHINGTON, DC – Criminal networks of poachers, suppliers, dealers, wholesalers,...
The U.S. House of Representatives Committee on Financial Services has scheduled a Thursday markup on an anti-money laundering (AML) bill (HR 6068) stripped of beneficial ownership provisions necessary to address this widely-recognized and well-documented vulnerability in the U.S. AML regime.
Leaked documents from Bermuda-based global offshore law firm Appleby—“Paradise Papers”—revealed today by the International Consortium of Investigative Journalists (ICIJ) bring to light again the global shadow financial system for the rich and powerful of the world. GFI Calls on Governments to Collect and Publish Beneficial Ownership Information for Accounts to Limit Future Abuses like those in the Paradise and Panama Papers Leaks.
The Addis Tax Initiative (ATI) this month invited Global Financial Integrity (GFI) as the first Supporting Organization to be added since the initiative was launched in July 2015. GFI joins the World Bank, the International Monetary Fund, and the Bill & Melinda Gates Foundation in this role.
Legislators in the U.S. introduce bi-partisans bills in the Senate and House to end the establishment of anonymous companies in the United States, which is crucial for anti-money laundering.
Heather Lowe, +1 202 293 0740 ext. 228
Global Financial Integrity (GFI) Legal Counsel and Director of Government Affairs Heather Lowe will testify before the House Financial Services Financial Institutions and Consumer Credit Subcommittee Hearing during a public hearing entitled “Examining the BSA/AML Regulatory Compliance Regime” on Wednesday.
Christine Clough, PMP
Illicit financial flows (IFFs) from developing and emerging economies kept pace at nearly US$1 trillion in 2014, according to a study released today by Global Financial Integrity (GFI), a Washington, DC-based research and advisory organization. The report pegs illicit financial outflows at 4.2-6.6 percent of developing country total trade in 2014, the last year for which comprehensive data are available.