Financial Transparency Coalition

Two pieces of pretty good news about anti-money laundering enforcement came out of HSBC this week. You might recall that earlier this year, a U.S. Senate investigation uncovered incredibly lax money laundering enforcement at the bank, including close ties to organized crime.

Africa and the rest of the developing world are often criticized for failing to effectively combat corruption. While many of these countries have a lot to do to get their domestic house in order, not enough attention is paid to the systemic global problems that make it very difficult for even a well-meaning, responsible African government to put a serious dent in illicit financial flows. Western financial secrecy and lax regulations make it very easy for elites in developing countries to squirrel away illicit money, far away from any tax authority.

This afternoon, at Task Force member Transparency International's International Anti-Corruption Conference in Brazil, the Task Force will be holding a panel discussion on illicit financial flows, corruption, and economic growth.

Two amazing stories have emerged out of the UK over the past few days for members of the Task Force. Our members in the United Kingdom are collecting meaningful and important recognition for their work on global tax dodging issues. Task Force Assistant Communications Director Nick Mathiason was nominated by the Press Gazette for the