Financial Transparency Coalition

Who is Mina Corp and why is the U.S. government doing business with it? Last week Andrew Higgins and Walter Pincus at the Washington Post wrote an article highlighting the U.S. military’s connection with this fairly mysterious company. The Subcommittee on National Security and Foreign Affairs of the U.S. House of Representatives' Committee on Oversight and Government Reform is investigating the contracts awarded to Mina Corp and its associated form Red Star Enterprises and is expected to publish a report on its findings sometime this month. While we wait for the report from Congressional investigators,...

Leaders from the world's largest economies - the G20 - will meet tomorrow and Friday in Seoul, South Korea to discuss the future of our international financial system. They have an unprecedented opportunity to institute changes to create a transparent global financial system that is open, accountable, fair and beneficial for all. As you probably know, developing countries are losing $1 trillion every year due to crime, government corruption, and tax evasion. These illicit monetary outflows are roughly ten times the amount of aid money going into developing countries for poverty alleviation and economic development. Click...

Although this week's Group of 20 summit is focusing on currency turmoil, the summiteers are also putting together a plan to give the G-20 a big role in spurring economic development in poor nations.

For the first time in its history, France has admitted a lawsuit brought by an anti-corruption agency against foreign nationals for money-laundering and embezzlement within the country’s boarders. Transparency International (TI), a Task Force member and prominent anti-corruption campaign organization, launched the suit in May of 2009. It brings money laundering charges against three African leaders: the Republic of the Congo President Denis Sassou Nguesso, Equatorial Guinea's Teodoro Obiang Nguema, and Gabon’s late president Omar Bongo. TI maintains each leader has used his position of power to enrich himself with the complicity of the French government...