April 11, 2014
On Friday, 11 April 2014, Global Financial Integrity convened a high level gathering of policymakers, thought leaders, and donors in Washington, DC for a candid discussion of the links between income inequality and illicit financial flows.
March 11, 2014
WASHINGTON, DC – Global Financial Integrity (GFI) praised the full European Parliament for voting today to crack down on anonymous shell companies, a major conduit for laundering the proceeds of crime, corruption, and tax evasion.
Following similar votes by two committees of the EU Parliament last month, the full legislative body voted today in favor of requiring public registries of beneficial ownership information for companies incorporated in the EU, as part of its revisions to the EU’s Anti-Money Laundering Directive (AMLD).
February 24, 2014
WASHINGTON, DC – Global Financial Integrity announced today that Arvinn Eikeland Gadgil has joined its Advisory Council. GFI, a research and advocacy organization based in Washington DC, will benefit from Mr. Gadgil’s experience working to promote economic development and curtail illicit financial flows at the highest level.
Mr. Gadgil is Director of Partnerships and Policy at the Norwegian Refugee Council in Oslo. Prior to his appointment in January 2014 he was Norway’s Deputy Minister for International Development from April 2012 to December 2013. Previously, he was Political Advisor to the Minister of Development. From 2006–2007 he worked in the South Asia and Afghanistan section in the Ministry for Foreign Affairs. Mr. Gadgil has also been posted to Afghanistan and worked for Development Fund Norway.
February 20, 2014
WASHINGTON, DC – Global Financial Integrity (GFI) praised the European Parliament for voting today to crack down on anonymous shell companies, a major conduit for laundering the proceeds of crime, corruption, and tax evasion.
The European Parliament’s Economic and Monetary Affairs (ECON) Committee as well as the Civil Liberties, Justice, and Home Affairs (LIBE) Committee voted in favor of requiring public registries of beneficial ownership information for companies incorporated in the EU, as part of its revisions to the EU’s Anti-Money Laundering Directive (AMLD).
February 14, 2014
At the end of January, the Kenya Sugar Board, acting on a tip off, seized and impounded over 1,800 bags of illegally imported sugar. Arrests were made and the board vowed to begin a country-wide crackdown on other cartels who smuggle tons of sugar into the country each year.
February 13, 2014
WASHINGTON, DC – Global Financial Integrity (GFI) applauded the Organization for Economic Cooperation and Development (OECD) today following its historic release of a new model multilateral agreement that countries will use to tackle tax evasion, money laundering, and other financial crime. GFI, a research and advocacy organization based in Washington, DC, touted this as a major victory and welcome culmination of one front in the long battle for cross-border financial transparency.
February 4, 2014
MANILA, Philippines / WASHINGTON, DC – More than US$410 billion flowed illegally into or out of the Philippines between 1960 and 2011—reducing domestic savings, driving the underground economy, and facilitating crime and corruption—according to a new report to be published Tuesday by Global Financial Integrity (GFI), a Washington DC-based research and advocacy organization. Over the 52-year period studied, the report finds that the Philippines suffered US$132.9 billion in illicit financial outflows from crime, corruption, and tax evasion, while US$277.6 billion was illegally transferred into the country, predominantly through the misinvoicing of trade transactions.
February 3, 2014
WASHINGTON, DC – Global Financial Integrity (GFI) today urged members of the European Parliament to support the creation of public registries of corporate ownership information in the upcoming vote on key revisions to the European Union (EU) Anti-Money Laundering Directive (AMLD). The pressure comes as GFI revealed that nearly US$70 billion in illicit financial flows—the proceeds of crime, corruption, and tax evasion—flowed into or out of developing and emerging EU member-states in 2011.