March 10th, 2011
Earlier this week, I attended a fascinating event in parliament, called ‘Africa’s Missing Millions’.
My quibble that the title should actually be ‘billions’ didn’t deter a standing-room-only crowd gathering to hear
Dev Kar from
Global Financial Integrity talk about his research into the vast sums of money that flow out of poor countries on a daily basis.
Dev estimates that in 2008,
$1.26 trillion in illicit money left developing countries. This is a problem that’s getting worse – with outflows rising 18% each year since 2000 – particularly in Africa, which is rising by 28% a year. Over...
March 8th, 2011
Last July, the
Dodd-Frank act provided in its section 1504 that all companies operating in the extractive industries that must report to the U.S. Securities and Exchange Commission (SEC) would have to publish all payments they make to the U.S. government or any foreign government on a project basis. Since then, the French and British governments have supported similar EU legislation. Many international companies worldwide, and not only the U.S. companies, will be covered by the upcoming SEC regulations which implement section 1504.
The argument against such a provision—being a threat to competitiveness—was utilized widely even before Dodd-Frank was...
March 8th, 2011
India stud farm owner arrested for 'illegal money'
BBC News, March 8, 2011
Stud farm owner Hasan Ali in court for $8 bln tax fraud
Reuters, March 8, 2011
Obama Taps Daniel Glaser For Terrorist Finance Post
Wall Street Journal (Blog), March 7, 2011
Open book test
Financial Times (Editorial), March 6, 2011
Tax reform to boost revenue for EU and developing countries
Press Release from The European Parliament, March 8, 2011
Mexico Undertakes Anti-Corruption Initiatives
Bernama, March 3, 2011
Panama: Move to bring ex-president to trial on money laundering...
