Financial Transparency Coalition

On Sunday Jean-Claude “Baby Doc” Duvalier returned to Haiti. “Baby Doc” took office as Haiti’s President (read: brutal dictator) when his father, “Papa Doc,” died in 1971. He was 19. What followed was a violent fifteen year rule, characterized by government-led kidnappings, tortures, and murders, and—by the estimates of human rights groups—the theft of $300 million of dollars from the nation’s treasury. Duvalier fled to France in 1986 to escape a revolt and has lived in exile ever since. Well, until last Sunday, when he unexpectedly returned to Haiti. Duvalier has hardly spoken for himself in public...

New Global Financial Integrity Report Reveals Russia is Losing US$50 Billion Annually in Illicit Outflows

Recent news from Russia confirms that corruption is a serious issue that, unless curbed, can prevent the country from emerging as a global economic powerhouse. Corruption in Russia has been a hangover from the Soviet Union days. It is just that the forces of globalization have provided old hands and the up-and-coming younger generation of Russians with unprecedented opportunities to make money under the table. Of course, the exponential increase in Russia’s natural resource exports (such as petroleum products and natural gas) has...

Swiss banker Elmer re-arrested over Wikileaks charges BBC News, January 19, 2011

Tunisia: Ali Baba gone, but what about the 40 thieves? The Economist, January 20, 2011

Where the Hot Money Flows Asia Sentinel, January 20, 2011

Russia follows China in illicit capital outflow Pravda.Ru, January 20, 2011

Malaysia is fifth in illegal money chart Malaysian Insider, January 20, 2011

UAE loses Dh1 trillion to illicit capital outflows Emirates 24/7, January 20, 2011

Illicit outflows from Gulf hit nearly $1trn TradeArabia News Service, January 20, 2011

Nigeria leads Africa...

Report Measures the Cost of Crime, Corruption, and Trade Mispricing on Developing Countries; China Alone Loses $2.18 Trillion WASHINGTON, D.C. – Global Financial Integrity (GFI) released its annual analysis of the cost of crime, corruption, and trade mispricing on developing countries yesterday. The report, “Illicit Financial Flows from Developing Countries: 2000-2009,” finds that approximately $6.5 trillion was removed from the developing world from 2000 through 2008. The report also examines illicit flows from Asia, which produced the largest portion of total outflows and makes projections for 2009. (Full report 3.35 MB, Tip Sheet...