Financial Transparency Coalition

Global Financial Integrity Managing Director Tom Cardamone has written a new blog post for the TrustLaw website highlighting U.S. Senator Rand Paul's (R-KY) efforts to gut the USA PATRIOT Act of key anti-money laundering/anti-terror financing provisions. The key provisions are set to expire Friday morning unless the U.S. Congress renews them before then. Referencing two of Senator Paul's eight proposed amendments to the act, Cardamone writes:

Two of the Paul amendments deal with Suspicious Activity Reports (SARs) that money services businesses...

Hillary Clinton made an extraordinary speech to the OECD on aid today. It went far beyond anything I might have expected. The whole thing is here. The important highlights are as follows, in my opinion:

There are many urgent issues we could discuss today, but I want to focus on two. First, partnering with developing countries on reforms in three interconnected areas – taxes, transparency, and corruption – because focusing on these three will give us the tools needed to enable more countries to fund more of their own development. And second, doing more to support women as...

Russia Signs OECD Anti-Bribery Convention The Moscow Times, May 26, 2011

Swedish bosses open to bribes: study The Local, May 26, 2011

UK bribery law expected to boost Thai business The Nation, May 26, 2011

Tax cheats undermine foreign aid, US warns AFP, May 26, 2011

In a first, Mauritius gives details of black money The Times of India, May 26, 2011

BI Survey Finds Numerous Holes in Banking Practices Jakarta Globe, May 25, 2011

The Monetary Affairs Committee of the EU Parliament has sent the following letter to the European Commission:

Mr Michel Barnier Commissioner for Internal Market and Services European Commission Rue de la Loi 200 B-1049 Brussels 25 May 2011 Country by Country Reporting Dear Commissioner Barnier We wanted to thank you for taking the time to meet with some of us last week in Strasbourg and for your continued positive engagement on country-by-country reporting and your public commitment to come forward with legislative proposals later this year . Before those proposals are published, we would like to reiterate a few key points from our meeting which we hope...