Financial Transparency Coalition

Three separate articles were published by The New York Times this week, connecting the dots of the shadow financial system. All three articles centered in some way around incorporation transparency - knowing who is the real beneficial owner of the corporation that you are doing business with. This issue is one of the five recommendations advocated for by the Task Force, and is at the center of countless world problems.

Nicholas Shaxon, author of Treasure Islands and a contributor to the Task Force blog, wrote a fantastic expose of US GOP Presidential Candidate Mitt Romney's offshore finances in Vanity Fair.

Where the Money Lives Vanity Fair, July 3, 2012 Keep the Dictators Out of Malibu The New York Times (Op-Ed), July 2, 2012 Agencies get nearly $3M for helping IRS inquiry Sun Sentinel, July 2, 2012 Millions Disbursed to Agencies in Wachovia Money Laundering Case NBC Miami, July 2, 2012 Miami money-laundering case spotlights link

The Institutional Revolutionary Party (PRI)'s victory in Mexico's presidential elections signifies a new challenge for curbing Mexican capital flight. Returning after a 12 year hiatus from office, PRI will govern both a quickly growing democracy and an underground economy that transcends the party's old negotiation strategy. Modern drug traffickers in Mexico's most corrupt regions have more intelligent and larger money laundering operations than those of previous decades, signaling a need for greater transparency in Mexico's financial structure.