Global Financial Integrity



GFI Welcomes Introduction of Bipartisan Bills to End Anonymous Companies in the U.S.

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.

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GFI’s Heather Lowe to Testify before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit Hearing on the U.S. BSA/AML Regulatory Compliance Regime

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.

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Centesimus Annus Pro Pontifice Foundation

Raymond Baker

Thank you. I am very grateful for the opportunity to participate in CAPP Foundation’s 2017 conference. This morning we are focusing our attention on human smuggling and economic crime, as Lord Skidelsky will focus our attention this afternoon on incentivizing solidarity and civic virtue.

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New Study: Illicit Financial Flows in Developing Countries Large and Persistent

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.

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House and Senate Bills Seek to Address Tax Evasion by Multinationals in the U.S. and Abroad

At a time when Members of Congress need more data to inform their important deliberations on effective tax policy reform, two bills introduced this week in the House and the Senate seek to provide lawmakers with previously unreported data from multinational corporations, often referred to as “country-by-country reporting” information.

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Transnational Crime is a $1.6 trillion to $2.2 trillion Annual “Business”, Finds New GFI Report

Christine Clough, PMP, +1 202 293 0740 ext. 231

Globally the business of transnational crime is valued at an average of $1.6 trillion to $2.2 trillion annually, according to a new report released by Global Financial Integrity (GFI), a Washington DC-based research and advisory organization. Titled “Transnational Crime and the Developing World,” the study highlights that the combination of high profits and low risks for perpetrators of transnational crime and the support of a global shadow financial system perpetuate and drive these abuses.

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Civil Society Experts Issue Accelerated Agenda for Addressing Illicit Financial Flows in Africa

As national leaders meet at the African Union Summit in Addis Ababa this week, a group of civil society experts has issued a set of recommendations to address illicit financial flows (IFFs), an issue of critical importance to regional development. Titled Accelerating the IFF Agenda for African Countries (the Accelerated IFF Agenda), the purpose of the document is to highlight for African leaders fourteen steps that can be taken to jumpstart efforts to address IFFs. Among the recommendations are suggestions to establish a multi-agency approach to fight IFFs, to collect information to identify corporate ownership, and certain tax-related measures.

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New Report on Unrecorded Capital Flight Finds Developing Countries are Net-Creditors to the Rest of the World

Global Financial Integrity (GFI), the Centre for Applied Research at the Norwegian School of Economics and a team of global experts have released a study showing that since 1980 developing countries lost US$16.3 trillion dollars through broad leakages in the balance of payments, trade misinvoicing, and recorded financial transfers. These resources represent immense social costs that have been borne by the citizens of developing countries around the globe. Funding for the report was provided by the Research Council of Norway, and research assistance was provided by economists in Brazil, India, and Nigeria.

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