Financial Transparency Coalition

I spoke at the launch of a new report I have written last evening in Bergen, Norway. The report is entitled ‘Investments for Development: Derailed to Tax Havens’. The report focuses on the use of tax havens / secrecy jurisdictions as investment conduits by Development Finance Institutions (DFIs). They are state owned companies located in European companies that invest their capital in developing countries for the express purpose of advancing development in those places by promoting investment in local business. The best known in the UK is CDC plc, formerly the Commonwealth Development Corporation. DFI activities can...

The Treasury Department on Monday proposed a requirement for banks to make weekly reports of all electronic money transfers into and out of the United States.

BERGEN, NORWAY—The Honorable Dr. Rafael Espada, Vice President of Guatemala, will address participants of the second annual Task Force on Financial Integrity and Economic Development conference tonight to close out the first day of the two-day conference. The Vice President is expected to highlight recent initiatives by the Guatemalan government aimed at improving transparency and best governance practices.

The report, entitled ‘Investments for Development: Derailed to Tax Havens: A report on the use of tax havens by Development Finance Institutions,’ looks at a critical area in the development activities of many European countries – the role of the Development Finance Institutions that they own in funding private sector investment in developing countries.