Financial Transparency Coalition

The James Mintz Group recently released a fascinating interactive database, which compiles decades of data on violations and penalties under the Foreign Corrupt Practices Act, the U.S. flagship legislation that makes bribery of foreign officials a crime. Since its inception, prosecutors have penalized over 200 companies under the FCPA in about 80 countries, amassing about $4 billion in penalties. The database, which they call Where the Bribes are Paid, allows users to see how the total penalties amassed in each country break down by sector. It is a relatively unsurprising finding that the energy sector has generated the largest...

Global finance lost in cyberspace The Deccan Herald, November 23, 2011 Money Laundering and Nuclear Proliferation U.S. targets Iran banks for money laundering Where Greeks hide their savings The Global Post, November 23, 2011 Most businesses will not be worried by well-targeted anti-avoidance rule, says IoD Tax Journal, November 21, 2011 Greece goes after big

I was delighted to talk at the launch of Eurodad’s new report – ‘Exposing the lost billions: How financial transparency by multinationals on a country by country basis can aid development‘ – last evening in the European Parliament. The report is on country-by-country reporting and is another major contribution to the debate now going on in Europe on this issue, and how far such reporting should go.

RM893b lost to ‘capital flight’ Free Malaysia Today, November 22, 2011 Extractive sectors and illicit financial flows: What role for revenue governance initiatives? Trust Law, November 22, 2011 Where has all the Greek money gone? RT, November 22, 2011 Buffett-Ducking Billionaires Avoid Reporting Cash Gains to IRS Bloomberg, November 21, 2011 Report urges EU to