Financial Transparency Coalition

Taxman talks to Starbucks over its beans The Daily Mail, August 8, 2010

Cabinet nod for revised Swiss tax treaty soon: Finmin official The Economic Tmes, August 8, 2010

India losing over Rs 2,000 cr annually on DTAA with Mauritius Press Trust of India, August 8, 2010

Task Force member Global Witness released a statement today praising the action take by the FSA to penalize the Royal Bank of Scotland for failing to record who truly benefits from the money flowing through their bank. Check it out below:

The OECD Working Group on Bribery stated that "South Africa should step up its efforts to detect, investigate and prosecute cases of bribery in international business deals" in a new report released today by the Organization for Economic Cooperation and Development (OECD). The report also encourages South Africa to:

• Raise awareness of the fight against foreign bribery in both the public and private sector;
• Boost existing law enforcement resources and training dedicated to fighting complex economic crimes, including foreign bribery offences, and enhance...

Last week, we saw some very heartening news from Fitch Ratings. The powerful credit-rating agency announced on Tuesday that it would consider violations of the Foreign Corrupt Practices Act (FCPA) a credit liability for corporations. According to Reuters:

"Companies that violate FCPA or other anti-bribery conventions have committed a criminal act that makes them potentially subject to indictment," Fitch said. "Criminal indictment can be hazardous to the financial health and existence of corporations." Indictment alone can trigger onerous reporting requirements, civil lawsuits, business losses...