Global Financial Integrity released the following web video today along with a letter from GFI Director Raymond Baker. The video encourages individuals to combat one of the oft-neglected causes of poverty, illicit financial flows, by urging the G20 to create financial transparency.
Dear Supporter,
For over half a century - western aid organizations have admirably worked to alleviate poverty in developing countries. Despite these efforts, over 3 billion people-or half the world-live on less than $2.50...
Global Witness
An international financial crime watchdog has named and shamed countries that are failing to stop dirty money entering the financial system, a move welcomed by Global Witness. However, conspicuously absent are major financial centres and secrecy jurisdictions, many of which also have serious weaknesses in their anti-money laundering regulations.
The Financial Action Task Force (FATF), the intergovernmental group that sets the global anti-money laundering standard, has issued a list of countries which are failing to do enough to crack down on financial crime. The 28 countries include Iran, Greece and Turkey.
Washington, DC -- Developing country treasuries are losing approximately $100 billion dollars every year due to trade mispricing, according to a new report available today from Global Financial Integrity (GFI).
“Every year crime, corruption, and tax evasion drain $1 trillion out of developing countries,” said GFI director Raymond Baker. “This report more closely examines one particular form of financial outflow and shows how illicit financial practices—in this case trade mispricing—deprive developing country governments of tax revenue.”
Report findings include:
