New GFI Blog Post Explores Link between Corruption, Poverty, and Violence against Whistleblowers in India
Post features advance look at numbers from upcoming GFI report on illicit financial flows from India; country lost over US$125 billion in illicit outflows between 2000-2008
WASHINGTON, DC – Following a Washington Post story published yesterday about recent violent crimes in India against whistleblowers, Global Financial Integrity published a post revealing new numbers from an upcoming GFI report on illicit financial flows (IFF) from India and explaining linkages between IFFs, poverty, corruption, and crime.
WASHINGTON, DC—Global Financial Integrity (GFI) is featured in an in-depth profile piece appearing in the tax news publication, Tax Notes International, which hit newsstands this week. The article features interviews with GFI director Raymond Baker, managing director Tom Cardamone, and legislative affairs director Heather Lowe in addition to discussing GFI’s work on such issues as transfer pricing, new legislation on tax compliance, and beneficial ownership.
Global Financial Integrity
WASHINGTON, DC—The delay of implementation of the UK Bribery Act until April 2011 is a setback to international anti-corruption and economic development efforts in the world’s poorest countries. UK officials announced today that the bill, adopted in April, would not be put into effect for another six months.
Global Financial Integrity
New Reporting Requirements a “Game Changer” in Extractive Industries Sector
WASHINGTON, DC—A provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act, passed in the Senate today, will require energy and mining companies registered with the Securities and Exchange Commission (SEC) to report payments to foreign governments for the extraction of oil, gas, and minerals on a country-by-country basis.
Official Statement is Heavy on Promises, Short on Action
WASHINGTON, DC — The G20 Summit in Toronto June 27th-28th was heavy on promises and lean on concrete action items, notes the Task Force on Financial Integrity and Economic Development. While the G20 expressed a strong desire to “close the development gap,” increase transparency, and tackle corruption and money laundering, there was a notable lack of language indicating an understanding of the interconnected nature of these different problems.
G20 Pledges to Help Poor Meet MDGs: Financial Transparency Can Help
TORONTO, Canada – The world’s largest economies hinted today that they will consider increasing Official Development Assistance to poor countries as a way to help them meet the Millennium Development Goals. The Task Force on Financial Transparency and Economic Development calls on the G20 nations to institute financial transparency measures which will result in additional resources that can be used to meet those development targets.
Tom Cardamone
Last December an ageing Russian Ilyushin Il-76 cargo plane flying from Pyongyang, was detained during a scheduled refueling stop in Bangkok. When the belly of the plane was inspected security personnel found 35 tons of illicit military equipment that, it was later discovered, was on its way to Iran. While it is a positive development that the $18 million cargo of rockets, surface-to-air missile launchers and rocket-propelled grenades was detected before reaching its intended destination, the arms shipment was anything but a rare occurrence. Worse, the shadowy world of shell companies, nominee directors and multi-jurisdictional layering of corporate entities, which are at the heart of this affair, was left completely intact. Fortunately, the G20 nations can play a hugely positive role in ameliorating this growing problem.
Global Financial Integrity
Director Raymond Baker and Director of Government Affairs Heather Lowe Appear in Latest Issue of the American Interest
WASHINGTON, DC — Pieces authored by Global Financial Integrity (GFI) director Raymond Baker and GFI director of government affairs Heather Lowe appear in the latest issue of the American Interest. The July/August edition of the bimonthly publication hits newsstands this week and may be viewed online at www.the-american-interest.com/.
