Financial Transparency Coalition

Stefanie Ostfeld of Global Witness, member of the Task Force, had a great Op-Ed published in The Hill on Tuesday. She outlines the recent HSBC hearing involving money laundering and terrorist financing allegations against the bank. HSBC’s failure to comply with regulations or put in place safeguards against these types of illicit activities not only promotes a dirty global financial system, but it opens up the U.S. financial system to these criminals.

Govt moves to curb illegal capital flight The Daily Star (Bangladesh), July 16, 2012 Evidence of illicit financial flows from developing countries placed in Germany Trust Law, July 15, 2012 HSBC Nears Pact in Launder Probe The Wall Street Journal, July 15, 2012 Tax evasion, not corporate fraud, at Reebok India? The Times of India,

Tax justice one step closer Norwegian Church Aid, July 5, 2012 HSBC to face US lawmakers over money laundering charges International Business Times (UK), July 12, 2012 Tax Avoider in Chief? The New York Times (Op-Ed), July 11, 2012 France, Germany tax evasion inquiries target Swiss bank clients Los Angeles Times, July 11, 2012 Tackling

FBI Says Zetas Laundering Scheme Used BofA Accounts The Wall Street Journal (blog), July 9, 2012 Follow the Money: Media’s Involvement in Trailing Laundered Money Nigeria Intel (Civic Media Institute of Nigeria), July 9, 2012 Romney’s offshore tax havens helping cause the deficit problem he complains about MSNBC, July 9, 2012 Finance industry’s multimillion-pound lobbying