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.
Writing about India’s booming economic performance and growth potential has become its own cottage industry over the last several years. Indeed, a report out this week predicts that India will become the world’s fastest growing economy by 2012 and, by 2030, will likely be the globe’s third largest economy behind China and the United States. From its educated work force to its embrace of technology and the likelihood it will be among the leaders in developing “green” businesses, it appears that India – other than the Commonwealth Games – can do no wrong. But the rosy picture has a dark underside that must be addressed if India’s stagnant income inequality levels are to be overcome.
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.
Global Financial Integrity
Greater Accountability Would Improve Development and Rights, Alleviate Poverty
WASHINGTON, DC – The United States should press for greater transparency and accountability in the global financial system at the G20 Summit meeting in Seoul, a coalition of civil society organizations said today. The G20 Advocacy Coalition brings together varied organizations – that share the view that increased transparency is essential to promoting economic development, alleviating poverty and realizing enjoyment of economic and social rights.
Data Part of a Forthcoming Global Financial Integrity Report on Illicit Outflows from the Developing World
WASHINGTON, DC – A new blog post published today on the website of the Task Force on Financial Integrity & Economic Development sheds light on the economic challenges facing Venezuela under its current leadership. The post reveals new numbers from an upcoming Global Financial Integrity report on illicit financial flows (IFF) out of the developing world and explains the linkages between IFFs, poverty, censorship and corruption.
